Fiancé and I are looking at houses. Found the perfect house within our budget but it was 500 bucks/month for HOA. What's even the point of owning a house? We are first time prospective home owners. I'm asking this genuinely
You do NOT want an HOA
>>34448178Pretty much all the houses we looked at were under HOAs
>>34448188There's your first mistake.
>>34448197The people we talked to said that 65% of all houses for sale right now includes HOA fees. And for our budget and expectations they said it's almost impossible to find a house that's not under a HOA.
>>34448177Houses are typically considerably larger than an apartment. If you don't need the space, then you don't need the house.>You do NOT want an HOADo you have Pajeets in your area? The HOA keeps them from painting their houses purple.
>>34448447>painting their houses purpleso? land of the free
>>34448456You are going back home, Ranjesh.
>>34448177My wife and I settled on just renting over buying. It ends up being more financially worthwhile to just rent and invest the difference given how ridiculously overpriced houses are now
>>34448177>What's even the point of owning a house?If you rent a house for 25 years, you pay rent every month, and at the end of it you have absolutely nothing. If you buy a house, you pay your mortgage every month, and after 25 years you own the house outright and you don't have to pay any more. It's not always that simple. Renting is sometimes less hassle, in that if there are repairs needed, it's the landlord's responsibility to get them done; if you buy, then it's yours. And buying and selling a house is expensive, so if you're likely to be moving in the next year or two, you might not want to bother buying until you're in a place you're likely to be for a bit longer.On the other hand, if house prices go up fast enough, buying can actually be an investment. If the house increases in value by a higher percentage than the interest you're paying on the mortgage, you actually make a profit. Rent tends to be higher than mortgage payments too: landlords often buy a house on a mortgage and then rent it out for an amount a little higher than the monthly mortgage payment, so the tenant is basically paying the landlord's mortgage.
>>34448751>you don't have to pay any more.Gov't goons say "hi"
>>34448974What the fuck are you talking about?
>>34449045taxes niggapay 'em
>>34449306People who rent pay taxes too. What's your point?
>>34448177>500 bucks/month for HOAThat had better come with a shitload of amenities. A private park for your HOA only, a swimming pool, a dock on the river, runway. Those things take a lot of upkeep, make your life better, and cost a lot to maintain.Otherwise that's just a ripoff. You can buy and own a lot of fun for $6k a year.
>>34448177>What's even the point of owning a house?1. No one can complain what you do with it (except for your HOA, so keep that in mind.)2. When the government it robbing from you with high inflation, the inflation in your asset value generally matches the inflation overall, so you're not robbed as bad.
>>34449534He means property taxes, but you're right, you do indirectly pay your landlord's property taxes if you're renting (on top of his mortgage)
>>34448217Sounds like you need to find a fixer upper on a 1 acre lot surrounded by rednecks on the outskirts
>>34448464>invest the difference given how ridiculously overpriced houses are nowIt's simple. Just buy 25 years ago when the apr was 2% on a $200k/5000sqft house.
>>34452931It's all just a series of dicks in asses but the renter is at the bottom of the pile with his dick in the dirt
>>34448177>What's even the point of owning a house?building equity
>>34452931>but you're right, you do indirectly pay your landlord's property taxes if you're renting (on top of his mortgage)Yes, exactly.
