If you’re in the wealth accumulation phase of your life, I think buying a home is a terrible decision (in most cases). Prove me wrong. Seriously. I’m not being rhetorical. I want to see if there’s math that says otherwise.
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Replying to @theSamParr
You have to compare the alternative. In my case, my mortgage payment was 20% less than my rent. One is burning money and the other is earning (house went up 22% in 15 months). I think buying a house is better than renting, specifically buying a house under $500K (3% down).
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Replying to @AlwaysBeHustlin
I did compare the alternative. That’s the point. I’m saying it’s a bad financial decision because there are so many better ones.
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Replying to @theSamParr @AlwaysBeHustlin
Key answer is it depends: https://youtu.be/F3PIObPVRPk This is the best financial breakdown I’ve seen. I bought and I would do it again (how I measure success). There’s nothing like not needing to ask permission to do whatever you want in your home.
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Replying to @BrokerChange @AlwaysBeHustlin
I think buying so you can do what you want is an amazing reason. But still don’t see how the average beats the average of other investments that are equal or less work if you’re comparing it based on accumulating money.
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Sam please give example of other investments that are better can be put to test by independently finding out those that invested in other thing. Thanks for sharing this notion please list 4he investments category
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S&p500, your own business, multi family
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