The Worst Investment You Can Make: Buying a Home

[winnipegjets]

Owning a home forces you to put your money into bricks and mortar instead of blowing it on trivial pursuits.

Renting makes more sense mathematically in some scenarios but it does not take human nature into account.

If I had no bought property in my 20s, I would have ended up buying a Beemer to show off instead of a Honda Civic which was all I could afford after paying my mortgage.

As my salary increased, I would have moved to a more swanky apartment and paid more in rent and purchased a fancier chick magnet rather than invest the salary rise.

At 40, I would have ended up jobless with nothing to my name and I'd now be driving a taxi or wearing a security guard uniform.

However, because I bought property instead of renting, I could sell my humble abode for $2.4 million and call it a day.

I am shocked by your admission.

 

[frenchbriefs]

rubbish,how many people can afford a property worth 2.4 million?most people are fooled and scammed into owning useless blocks of concrete by HDB,their CPF are bled dry,and their first born and children are forced into a lifetime of servitude just to put a roof over their heads.

in new zealand,not only can u drive a beemer and a chick magnet,at 40 when u are jobless and broke....the state will feed you and cloth you and give you free iphone and ipad for communications and education and best of all free section 8 housing!!!!

[video=youtube;NzspsovNvII]http://www.youtube.com/watch?v=NzspsovNvII[/video]

Owning a home forces you to put your money into bricks and mortar instead of blowing it on trivial pursuits.

Renting makes more sense mathematically in some scenarios but it does not take human nature into account.

If I had no bought property in my 20s, I would have ended up buying a Beemer to show off instead of a Honda Civic which was all I could afford after paying my mortgage.

As my salary increased, I would have moved to a more swanky apartment and paid more in rent and purchased a fancier chick magnet rather than invest the salary rise.

At 40, I would have ended up jobless with nothing to my name and I'd now be driving a taxi or wearing a security guard uniform.

However, because I bought property instead of renting, I could sell my humble abode for $2.4 million and call it a day.

 

[nayr69sg]

The worst investment you can make is buying ONE home not "a home".

Always buy two at the very least. Live in one, rent out the other. You will find that your overall costs of owning two is essentially the same as owning one. Your tenant pays the mortgage for your other home and helps you own it.

Of course the assumption is that you can rent out the other home. "What if you cannot?" That is invariably the fear statement everyone is told and hears. The truth is, you can always rent it out, it's just a matter of what price and which tenant.

The other challenge is of course coming up with the downpayment for 2 properties. It's not easy but it is worth the pay off I can attest to that. Real estate is different from stocks because you can get a loan from the bank to invest in that class of asset. So leverage comes to play. $1 downpayment, can be actually $5 invested in the asset.

In stocks there is no leverage. Those who can play the leverage game get better returns if their investment pays off.

The home you live in is not really an asset or investment unless it in itself is somehow generating income for you eg rent out rooms, home business etc.

 

[Ash007]

Average rental at my area is $2100 a month, My mortgage is $2100 a month. After 30 years, if I continue the min, repayment, I get a house. With rental after 30 years I don't get any. That is not even considering the rental increments during that period.

 

[Leongsam]

rubbish,how many people can afford a property worth 2.4 million?most people are fooled and scammed into owning useless blocks of concrete by HDB,their CPF are bled dry,and their first born and children are forced into a lifetime of servitude just to put a roof over their heads.

in new zealand,not only can u drive a beemer and a chick magnet,at 40 when u are jobless and broke....the state will feed you and cloth you and give you free iphone and ipad for communications and education and best of all free section 8 housing!!!!

There are enough people out there who can afford a 2.4 million dollar home to buy the one I put on the market.

In NZ, while the down and out may be pampered to a greater degree compared to Singapore, the chances of Kiwis making big money and retiring early is far slimmer. They depend far too much on the state for their existence.

Real Estate has never failed me.

The house I bought in Singapore for $450,000 sold for more than $2 million 6 years later.

The house I then bought in Perth doubled in value in 8 years.

The apartment I bought in Sydney doubled in value in the same period.

The home I am living in now is worth 3 times what I paid for it 10 years ago.

If I had rented all my life, I'd be a pauper.

The formula is simple... buy in the best neighborhood you can afford regardless of the condition of the house.

 

[frenchbriefs]

Average rental at my area is $2100 a month, My mortgage is $2100 a month. After 30 years, if I continue the min, repayment, I get a house. With rental after 30 years I don't get any. That is not even considering the rental increments during that period.

2100 are u living in new york or tokyo?

 

[frenchbriefs]

u should be become a real estate agent instead,u could be donald trump by now with a chinese combover.my god so many doubling and tripling and quadrupling....if i calculated correctly a house just by the virtue of leong sam's backside squatting in the toilet can quintutruoctaple from $450k to $24 million in just 24 years!!!!

There are enough people out there who can afford a 2.4 million dollar home to buy the one I put on the market.

In NZ, while the down and out may be pampered to a greater degree compared to Singapore, the chances of Kiwis making big money and retiring early is far slimmer. They depend far too much on the state for their existence.

Real Estate has never failed me.

The house I bought in Singapore for $450,000 sold for more than $2 million 6 years later.

The house I then bought in Perth doubled in value in 8 years.

The apartment I bought in Sydney doubled in value in the same period.

The home I am living in now is worth 3 times what I paid for it 10 years ago.

If I had rented all my life, I'd be a pauper.

The formula is simple... buy in the best neighborhood you can afford regardless of the condition of the house.

 

[winnipegjets]

There are enough people out there who can afford a 2.4 million dollar home to buy the one I put on the market.

In NZ, while the down and out may be pampered to a greater degree compared to Singapore, the chances of Kiwis making big money and retiring early is far slimmer. They depend far too much on the state for their existence.

Real Estate has never failed me.

The house I bought in Singapore for $450,000 sold for more than $2 million 6 years later.

The house I then bought in Perth doubled in value in 8 years.

The apartment I bought in Sydney doubled in value in the same period.

The home I am living in now is worth 3 times what I paid for it 10 years ago.

If I had rented all my life, I'd be a pauper.

The formula is simple... buy in the best neighborhood you can afford regardless of the condition of the house.

If you can do it, everybody can?
Flipping properties is not everybody's cup of tea. It all depends on when you buy.

 

[winnipegjets]

Average rental at my area is $2100 a month, My mortgage is $2100 a month. After 30 years, if I continue the min, repayment, I get a house. With rental after 30 years I don't get any. That is not even considering the rental increments during that period.

Property taxes & maintenance cost? Is your $2100 mortgage fixed for the 30 years?

 

[Narong Wongwan]

Dumbfuck angmo dunno about pappy owned paradise island sinkieland.
If you bought any property here 30 years ago now confirm multi millionaire liao

 

[Papsmearer]

Yes, I believe that the PAP uses the same philosophy to force people to rent from them.

 

[Leongsam]

If you can do it, everybody can?
Flipping properties is not everybody's cup of tea. It all depends on when you buy.

I didn't time my purchases to make money. I bought when I needed a house. You will never lose money with real estate because good land in choice areas is finite. A view of Sydney harbor in a good neighborhood cannot be replicated somewhere else.

 

[J92bNp]

There are enough people out there who can afford a 2.4 million dollar home to buy the one I put on the market.

In NZ, while the down and out may be pampered to a greater degree compared to Singapore, the chances of Kiwis making big money and retiring early is far slimmer. They depend far too much on the state for their existence.

Real Estate has never failed me.

The house I bought in Singapore for $450,000 sold for more than $2 million 6 years later. (unbelievable)

The house I then bought in Perth doubled in value in 8 years. (believable)

The apartment I bought in Sydney doubled in value in the same period. (believable)

The home I am living in now is worth 3 times what I paid for it 10 years ago. (believable).

If I had rented all my life, I'd be a pauper.

The formula is simple... buy in the best neighborhood you can afford regardless of the condition of the house.

Tell me during which 6 years period you bought your Singapore property. Your property value increase by 5X within a 6-year period. Totally unbelievable.

 

[Leongsam]

Tell me during which 6 years period you bought your Singapore property. Your property value increase by 5X within a 6-year period. Totally unbelievable.

I bought in 1988 and sold in 1994.

 

[escher]

As my salary increased, I would have moved to a more swanky apartment and paid more in rent and purchased a fancier chick magnet rather than invest the salary rise.

Pathetic!

Need to rely on chick magnets instead of your own cock.
My prick is the magnet , and his ability to fuck hard and fuck good and fuck for hours standing up or squatting down or frontside up or on side in positions over and beyond Kamasutra and Japanese manga
My prick ability to make gals see ten thousand shades of colors and reach and know nirvana is my magnet

Any of your gals, once they know my prick, drop you and cum to me and ride with me to lands beyond the starlight.

 

[Hans168]

oh dear >>80% own HDB homes.. all get fucked by Mah BT

 

[sochi2014]

My Econs Teachers always recommend us to buy homes to hedge against inflation!

Inflation is always there.

Once your kids need to go Harvard or Princeton, you definitely be prepared to pay for their first year tuition fees!

If you throw all your money on new cars. Once it hit the ground, it has already started to depreciate substantially.

I prefer to buy homes than new cars!

LAO GOH is good to suggest we help ourselves through asset inflation!

 

[krafty]

whoa...i was still a secondary 2 student counting my pubic hair...:o

I bought in 1988 and sold in 1994.

 

[Thick Face Black Heart]

However, because I bought property instead of renting, I could sell my humble abode for $2.4 million and call it a day.

Property has been the best investment of the 20th century. The question is, will it continue to be in the 21st?

I don't think so.

That is why you must also invest in stocks and businesses, IN ADDITION to property.

 

[Leongsam]

That is why you must also invest in stocks and businesses, IN ADDITION to property.

I put more than $200,000 into my business.