1$ kuda savings lekunda memu house ela konnam

[VinPetrol]

13 minutes ago, Catalpha said:

E pilla confidence chustunte chiraku vastundabba, visa meeda undi 5k downpayment tho illu konnaranta, without any savings. What is this confidence ya?

That’s why I have been telling you as don’t watch this vlogs .. you loose your peace .. now you started thinking their problems as yours.. suggestion:stop watching this ASAP.. 

[Catalpha]

1 minute ago, Vaampire said:

Rates peruguthunna area lo pakka worth it konadam. Specially bay area

Home value increase assumption at 2%, considering insurance, and other costs. But ROI on investments is atleast 6% if not more. 401k lo 200k unte 7-10% ROI ostundi, adi downpayment ki kadithe, ROI on 401k and IRA kalipi you have to start from scratch. Considering these assumptions, renting is better than buying. 

[Vaampire]

3 minutes ago, Catalpha said:

https://smartasset.com/mortgage/rent-vs-buy

According to this, i will be saving 20k if i own thr home for 6yrs.. totally ignore the price increase.

over to @tom bhayya

[Catalpha]

1 minute ago, Vaampire said:

According to this, i will be saving 20k if i own thr home for 6yrs.. totally ignore the price increase.

over to @tom bhayya

I probably don't make as much as you do, and live in a more expensive area. 

[Vaampire]

1 minute ago, Catalpha said:

Home value increase assumption at 2%, considering insurance, and other costs. But ROI on investments is atleast 6% if not more. 401k lo 200k unte 7-10% ROI ostundi, adi downpayment ki kadithe, ROI on 401k and IRA kalipi you have to start from scratch. Considering these assumptions, renting is better than buying. 

Again, that totally depends on the area.

bay area lo last 7 yrs lo prices almost doubled.

i bought a home 6 yrs back. Monthly i am paying $1500 more for emi compared to renting. So total of 108k. Total down payment 100k...  so total of 208k. So getting 208k now after clearinh bank loan is my break even point. In reality i will getting much more than that

[Vaampire]

4 minutes ago, Catalpha said:

I probably don't make as much as you do, and live in a more expensive area. 

First part totally agreed. Second part totally disagreed.

[Catalpha]

8 minutes ago, Vaampire said:

Again, that totally depends on the area.

bay area lo last 7 yrs lo prices almost doubled.

i bought a home 6 yrs back. Monthly i am paying $1500 more for emi compared to renting. So total of 108k. Total down payment 100k...  so total of 208k. So getting 208k now after clearinh bank loan is my break even point. In reality i will getting much more than that

Probably. In my area downpayment is close to 400k, ROI on investments is 7-10%. I don't think the ROI on a house will be the same if I empty all accounts and put it on downpayment. My rent is only 3500$, but mortgage will be close to 5000$ over 30 years. It doesn't make sense to buy. 

[Catalpha]

4 minutes ago, Vaampire said:

First part totally agreed. Second part totally disagreed.

Very modest, I can tell. 

[Vaampire]

3 minutes ago, Catalpha said:

Probably. In my area downpayment is close to 400k, ROI on investments is 7-10%. I don't think the ROI on a house will be the same if I empty all accounts and put it on downpayment. My rent is only 3500$, but mortgage will be close to 5000$. It doesn't make sense to buy. 

Mortgage 5k lo interest would be 3.5k. 1.5k principle ki pothadi. So u should still consider both as same.

again ur totally ignoring growth.

[Vaampire]

2 minutes ago, Catalpha said:

Very modest, I can tell. 

Nope. 

[LadiesTailor]

5k downpayment aaa ? Ee voorlo illu vachindi 

[Catalpha]

4 minutes ago, Vaampire said:

Mortgage 5k lo interest would be 3.5k. 1.5k principle ki pothadi. So u should still consider both as same.

again ur totally ignoring growth.

Again you are assuming that people would want to work for 30 more years to pay mortgage. If you have close to 750k-1M in all your retirement accounts, you could easily retire right away in others parts of the US based on 4% rule instead of working for 30 more years. 

[Vaampire]

1 minute ago, Catalpha said:

Again you are assuming that people would want to work for 30 more years to pay mortgage. If you have close to 750k-1M in all your retirement accounts, you could easily retire right away in others parts of the US based on 4% rule instead of working for 30 more years. 

I dont get it. Rent mathram 5-6 yrs kattesaka apesthama?

you can sell the house when ever u want?

 

nothing personal, but let me tell you a fact. Majority of people who say “buying home is not a good option” never bought a home.  They just go with theoritical calculations. 

 

[Catalpha]

11 minutes ago, Vaampire said:

I dont get it. Rent mathram 5-6 yrs kattesaka apesthama?

you can sell the house when ever u want?

 

nothing personal, but let me tell you a fact. Majority of people who say “buying home is not a good option” never bought a home.  They just go with theoritical calculations. 

 

What I mean is, if it makes sense to work in the Bay area for 30 years, if you could retire in 5-10 years and live elsewhere. There are places you could buy a house with 200k, if you have a million in retirement accounts, you could live on 4% ROI on investments without working in others parts of the US. 

[OreyPandhi]

1 hour ago, Nimmakai said:

cc @Catalpha aunty 

lemonss