Buying vs renting .. come on gusa gusa

[veerigadu]

1 minute ago, Aquaman said:

most of the new construction ki  MUD/PID tax kuda untay in good school areas lo in dallas... so property tax is   between 2.3 to 3%

[CanadianMalodu]

37 minutes ago, Vaaaampire said:

Good luck man. I had enough discussions in this db about them. Do what makes sense to you. 

I'm neither seeking you advice on how or where I put my monies nor seeking your wishes.  I just merely tried to dispel the conception of ownership that you and others seem to project on this forum. Mortgage by definition doesn't imply ownership, the connotation of ownership when buying a mortgage is misleading.  

[veerigadu]

3 minutes ago, CanadianMalodu said:

I'm not seeking you advice on how or where I put my monies.  I just merely tried to dispel the conception of ownership you and others seem to project on this forum. Mortgage by definition doesn't imply ownership, the connotation of ownership when buying a mortgage is misleading.  

In vomerica, you can say the same about even cars and education. People love being in debt to banks here. 

[psycopk]

26 minutes ago, veerigadu said:

Not trying to be a party pooper here. But lets look at it practically.

Appadu adhi 5-7 years old kompaaa ayithadhi kadha samara....No takers in the market. especially If its a desi community. 

Your value will be merely on paper. Assuming it will appreciate 3 times in 5 years. 

More number of single families added to the market.. they will need homes… there isnt enough inventory out there.. i dont know which desi communities you are referring to.. the ones i know are always in high demand

[veerigadu]

10 minutes ago, psycopk said:

More number of single families added to the market.. they will need homes… there isnt enough inventory out there.. i dont know which desi communities you are referring to.. the ones i know are always in high demand

How many desis do you know that brought a 7 year old house? I'm not saying none. But its definitely lesser in comparsion. 

Also, Have you ever seen a white/hispanic person buying a house in desi community?

These things are a matter of concern in future. Anyways, I dont want to be a pessimist in this thread. At the end of the day, a house is more than just buying and selling. There are a lot of other  aspects associated with it. I rest my case here.

[AnandaVivek]

3 minutes ago, psycopk said:

More number of single families added to the market.. they will need homes… there isnt enough inventory out there.. i dont know which desi communities you are referring to.. the ones i know are always in high demand

Exactly..Austin vachi choodu @veerigadu..denemma constructions inka aagaledhu..property taxes ekkuve kaani.. no state tax will off set some of it and also you get way bigger house at half the cost of bay area house

[veerigadu]

1 minute ago, AnandaVivek said:

Exactly..Austin vachi choodu @veerigadu..denemma constructions inka aagaledhu..property taxes ekkuve kaani.. no state tax will off set some of it and also you get way bigger house at half the cost of bay area house

Villantha Cash tho kone batch anna...Anyways, its all good bro. Good vibes. 

[Aquaman]

7 minutes ago, AnandaVivek said:

Exactly..Austin vachi choodu @veerigadu..denemma constructions inka aagaledhu..property taxes ekkuve kaani.. no state tax will off set some of it and also you get way bigger house at half the cost of bay area house

demand may not stay same ... RTO is happening, remote jobs are going away... inventory is growing.. also the construction of new homes and new communities is in progress, which will be out soon.

[psycopk]

36 minutes ago, veerigadu said:

How many desis do you know that brought a 7 year old house? I'm not saying none. But its definitely lesser in comparsion. 

Also, Have you ever seen a white/hispanic person buying a house in desi community?

These things are a matter of concern in future. Anyways, I dont want to be a pessimist in this thread. At the end of the day, a house is more than just buying and selling. There are a lot of other  aspects associated with it. I rest my case here.

that mind set is long gone... i brough 12yrs old house... even second one i wanted to buy old house... edo intlo ladies kosam vadilesa ee sariki

[beerboy17]

3 minutes ago, psycopk said:

that mind set is long gone... i brough 12yrs old house... even second one i wanted to buy old house... edo intlo ladies kosam vadilesa ee sariki

how wise is buying a second one ... just trying to understand ... since Real estate here is very volatile ....

[Anta Assamey]

1 hour ago, bunk seenu said:

Idem logic anna.. ante credit card tho groceries konte adhi katte varuku vadava enti .. nenu ichina example chandalanga unna , I hope u got my point..

FOMO tho illu konatam entha tappo too much financial analysis chesi konakunda undatam kuda anthe mistake especially if u can afford it and know that u will stay there for next few years.

[Vaaaampire]

58 minutes ago, CanadianMalodu said:

I'm neither seeking you advice on how or where I put my monies nor seeking your wishes.  I just merely tried to dispel the conception of ownership that you and others seem to project on this forum. Mortgage by definition doesn't imply ownership, the connotation of ownership when buying a mortgage is misleading.  

If in case u get profit when u sell home. Who gets to take it? 99.9% people buy cars taking loans which takes 5 yrs to pay off. And after 5 years car depreciates by 50% approx. so car is owned by bank ani nadapara enti

 

i just my opinion to thread starter about buying vs renting.  

[Vaaaampire]

1 hour ago, bunk seenu said:

Idem logic anna.. ante credit card tho groceries konte adhi katte varuku vadava enti .. nenu ichina example chandalanga unna , I hope u got my point..

FOMO tho illu konatam entha tappo too much financial analysis chesi konakunda undatam kuda anthe mistake especially if u can afford it and know that u will stay there for next few years.

+million to second paragraph. Thats what i meant in first reply

[Vaaaampire]

50 minutes ago, veerigadu said:

How many desis do you know that brought a 7 year old house? I'm not saying none. But its definitely lesser in comparsion. 

Also, Have you ever seen a white/hispanic person buying a house in desi community?

These things are a matter of concern in future. Anyways, I dont want to be a pessimist in this thread. At the end of the day, a house is more than just buying and selling. There are a lot of other  aspects associated with it. I rest my case here.

My real estate knowledge is mostly as per bay area. Ikkada 40-50 years old home ni kallakadhukoni kontaru. 
I feel the quality of construction is going down day by day. Older homes in bayarea have some back yard space & good lots. Newer homes ki koncham rare ey.

i owned a 30 year old for around 8 years. I agree it needed repair works few times. Adho head ache untadi old homes lo. Backyard lot was amazing.  Living sqft saripoka ammesam kaani malli alantidi property dorakaledhu naaku

[ManOffSteel]

3 hours ago, mettastar said:

Buying:

Austin lo oka 3200-3500 sft home manchi school district(8+ rating) lo theeskovalante $750k avuthundi 

With 20% down =150k and current interest rates monthly payments close to $5.5k avuthundi. Ninna ammortization chusthe next 5yrs lo equity $40k build avuthundi

Renting:

3k sft home in cedar park with good school districts, close to shopping and all amenities .. I can get them for $3k-3.5k

 

Lets say next 5yrs rent chesthe 

$150k - invest in a mutual fund $VOO or similar

And recurring monthly deposit $2k (diff $5.5k -$3.5k) 

After 5yrs this will be close to $350k (assuming avg 7% returns) ~ $200k savings

 

Two scenarios: home price may go up to $1M .. or home prices may drop or stay flat 

$1M aithe $250k + 40k equity =$300k +

Rent chesthe $200k savings (little risk)

 

Am I missing something? Rent chesthe market kindhaki velthe buy chese opportunity untundi .. not missing on anything .. considering current scenario (home prices doubled or went up by 70% compared to pre covid)

Next 3-5yrs lo malli crazy movement untundi antara? 

@Spartan

@psycopk

@Android_Halwa

750k new Home rent will be easily 4500+ not 3500. That will change all your numbers. If the mortgage payment is 5.5k no one will give you the same home for 3500$