>>34552359
The rent seems cheap. The House buying seems like a burden if you also have to travel afar and what not, that just increases the cost, and your solvency decreases(fluid cash)
How about you save the money, invest in safe govt bonds, let the money grow itself. One day you might be able to just live off of the returns, while the remainder is still significant to let your pile grow.
Meanwhile, keep doing your hobbies, if you're into group hobbies that way you meet people.
Also, never tell anyone how much you have, they'll leech.
Spend some money on yourself from time to time, like travel.
Be smart with your money anon. Be happy, content. Be free from anxiety.
If a gal comes along, great, if she doesn't, great, you still have you and that's the most important thing

In general, owning property is a great idea and a good way to build wealth and prosperity for your descendent. But right now property prices are insanely high, and so are interest rates in the usa (probably everywhere but I don't know that) So, considering you aren't planning on starting a family, it may not be a good move right now. I was fortunate enough to buy a 100 year old farmhouse 8 years ago, the value has skyrocketed but it doesn't matter because I probably can't afford to move. It requires a lot of maintenance. If you do buy, consider buying a condo or a duplex that you can rent half out to someone else. If you're handy, look for one that needs cosmetic work (not major repairs though) Good for you for thinking about taking care of your mom, that's admirable.

> homeowners typically have 5-10x the net worth of renters by age 50
> your income will go up over time so the mortgage doesn’t seem so high. i could barely afford my monthly payments when i got my house. 15 years later its incredibly cheap
> inflation works for you when you own. as prices go up and money becomes more worthless, your house value goes up

there’s very few downsides unless you’re buying into a black neighborhood

>>34552441
>your income will go up
citation needed

you are paying a premium for a forced savings plan. it could work for most retards. me I could never commit to debt slaving for 30 years. but I am lucky enough to have cheap rent, so I come out ahead investing the difference.

another shitty fact about homeownership is putting all your eggs in one basket. Politically I support land reform to tank the price of housing. niggers who put all their wealth into an overpriced house are the NIMBYs of tomorrow. You are the problem. kill yourselves.

>>34552467
if you are so worthless to society that your income maxes out before you turn 50 i will be very impressed at your lack of drive. you are a true wagie. the rest of us are getting raises each year. and leaving jobs for better ones when they pay more. i’d say this is a skill issue but you didn’t even know it was a game to play. you’re just lost and retarded

>>34552474
Not them but my family always tells me to stay at my old job and they would shame me for job swapping. Is it normal to get raises and jump around? I only get like 21 an hour a solely IT/software/hardware telecom repair/installer.

>>34552581
if you don’t know how to find the answer to this question and just blindly listen to people outside your working field then you’re fucked anyway

>>34552593
Thanks. :)

>>34552599
>>34552593
I think i dont care enough about money anyway since I spend about 1900 a month (1500 rent) and make 3200 or so. So its okay anyway.

>>34552359
>Is this a good idea?
If you have enough money to afford the downpayment, the moving expenses, home inspection, and will still have more income available to put towards savings then yes. The difference between renting and owning is that all the money you were previously putting toward renting is being converted into equity instead. And that affords you more financial stability and adaptability.

It takes a very long time to find a house worth buying at a mortgage rate that you can handle though. Do not get attached to any of the houses you look at, there's no such thing as a house that is "perfect" for you. They all have pros or cons and you should never make the purchase decision on any factors that aren't financial in nature.

Commuting distance is a factor you shouldn't take lightly though. It has costs that are harder to measure and depreciates the average of your wages because you lose that extra time in devotion to your employment.

>I've looked around and the average price of house is about $400K to $500K which is about $2K per month for 35 years.
You will not know what the ACTUAL payment is on that mortgage over that timeframe without having applied for and been approved for a mortgage. In a lot of places all of your local and state taxes, insurance, and other associated expenses are rolled into your mortgage payment as a single sum. So you need to assume any "monthly payment" you get as an estimate through a site like Zillow or Redfin is only 75% of what you might actually end up paying.

In other words don't base your decision on what you think it's going to cost unless you have afford quite a bit more than that false assumption. Because you are going to have a much stronger need to save money for unforeseen circumstances or emergencies as a homeowner than you would as a renter. Because homeowner's insurance won't be paying for every type of problem you can encounter in home ownership..

>>34552359
>$400K to $500K which is about $2K per month for 35 years
Where are you getting this number from?!?! That $2k monthly payment on a $400k-500k is extremely low. It should be at least $3500-$5000 with a 10-20% down payment, with the majority being interest in the first few years. As a rough rule of thumb, the full mortgage cost is about 3x the value of the house. Don't forget about heating, electricity, utilities, home improvements, yard maintenance, and property taxes. If you only make $60k, you probably won't get approved for anything above $250k.

>>34552359
I would invest the time and money into a home if property taxes didn't exist. Why the fuck do I have to pay the government to keep my house that I already bought and paid for? A mortgage is basically just renting from the government.

>>34552359
You can keep renting. Invest in something more sane than a house.
Ownership requires commitment to a certain path.

>>34552604
ok numbnuts. rent doubles every 20 years. you could lock in a monthly payment now that won’t grow with inflation, or pay 3000 in rent in 20 years. your income will grow with inflation too. but if your spending 40% on rent now and 40% on rent later it doesn’t help you. locking in the mortgage rate lets you actually make more money. and all the money in the house is worth a lot in 20 years

>>34552658
This, OP is naive and has no idea how much it costs to own a home. I bought my condo for $385k four years ago with a 3.5% APR. My monthly mortgage is $2300 not including $300 HOA, utilities, or groceries. Interest rates are going to start at 6% right now so that means you will be paying double what I am paying.

With OP's budget he would need to rent out a spare bedroom just to have a little breathing room and even then it could be tough. If he doesnt have a hybrid or EV that hour long commute is going to kill his budget just for gas, not even car maitenance.

>>34552658
>>34553358
Should have specified that I don't live in America, I got that number from asking a few colleagues that already own a house here

>>34552359
When you buy a house and aint stupid, you can get a loan when the value increases and invest that money to pay the loan. Make money machine. Repeat. Relax.

Not anything I ever see get posted here, but just FYI (at least in the US), your mortgage payment increases marginally every year due to escrow. When I first started paying on my house a couple years ago, monthly payments were $17xx-18xx and now they're just a little under $2000. Still worth being a homeowner tho.

>>34553938
that is not how it works. you have an ARM

>>34554002
No retard, I have a fixed interest rate. Escrow is completely different from your interest rate. You should probably look at the payments you're making on your home. Your bank should have notified you of any change in your mortgage payments.

>>34554318
my mortgage payments will never change for the life of the house you dumbass. you did something retarded. the only thing that increases cost of ownership over time for me, and everyone else who understands the world, is property taxes