Renting vs. Buying in this Housing Market

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[rogermendez]

My nephew is currently having this dilemma rn lol. His plan is to rent temporarily and save up for a permanent house. With the housing market conditions right now, your thoughts are very helpful, javier. Always a fan of your analysis, assessment, and recommendations. realest and coolest yt realtor alive hahahah

[goldenlifelove]

My rent on a beautiful 2 bed/2 bath apartment in a nice northern VA suburb is $1888 a month. The mortgage on a $500, 000 house in my area is over $4, 000 a month. YES, I want a house, NO, I don't want to spend over 4 grand a month for it.

[getinthespace]

My wife and I both make 6 figures now that she graduated with her nursing degree.
We are moving to be closer to her family and new job.
The market there is broken. No supply on the market, old run down houses, way over-priced.
We decided we are buying property and I'm going to build us a modest house. I used to work construction. I can build us a nice new house for less than 50% the cost of buying an old fixer upper/money pit.
So we are going to cash flow building.
We are renting short term. It will save us over $200k in a year.

[joashospino]

You should have a category for people who hate where they live

[brennathompson]

I am one of the rare optimists- bought a house for 170k in 2022 right before the rates went up with not enough research. Someone told me I was wealthy enough to buy a home where I lived in the Midwest and I literally called a realtor the next day.

I just checked the recent sales in my area (learning more about local area research thanks to your videos!) and similar homes are selling for 190-240k right now.

[frodobe_tbaggin]

I don’t see that 25-30% of your net income as monthly payments being feasible anymore. Atleast not where I live .

[brentbandrews]

Great vid, I have no debts and my rent is $1350 and the average mortgage in my area (Austin) starts at $2400 - $2800, that's more than 50% of my monthly net salary and I can't bring myself to pay that monthly. Also let's be clear here the days of 3% interest was anomaly that we may never see again.

[wts]

Your videos are so unbelievably helpful! Definitely sharing this with others!

[donna.billy]

Javier.. man you make videos both entertaining and informative . YOU ARE A PRO. sharing this video to my family👍🏼

[rameshmola]

Thank you so much Javier for making excellent video on this topic!

[ryanretirement]

Buy a house for long term it make sense rather than renting. Rent keep go up over time no matter where you rent.

[YoPhocFays]

Home ownership is great, but not when you are barely scraping by just to make the mortgage payment.
Repairs kill homeowners who live on the edge.

[darkangel]

Here in Florida, you have to pay first and last plus a security deposit. 2/2 can cost you between $5, 700 to $7, 200 for move-in costs. $1, 900 to $2, 400 a month depending on the area.

[Waltuh]

Good to see you posting more, hope you are doing better

[clas]

When the interest on a home loan is more than the rent, it doesn’t make sense to have a mortgage.

[joonsantini]

My neighbor just listed and is pending in 12 days. He’s getting double what he paid for in 2016.

[austinparker]

I feel like 2 major things that are never mentioned in these videos are 1. Most houses have at least 2 bedrooms if you rent a bedroom it could lower the monthly cost of home ownership significantly over renting.
2. Home ownership combined with renting a room as major tax implications that save you hundreds a year in taxes.
Renting does not offer these options.

[jddj]

As a homeowner i can say, if I knew what I was getting into I wouldn't buy so soon. I was always told a mortgage will never change . My mortgage went up every year since I owned my house with property insurance and property tax going up, can't even change insurance because I need to replace my roof which is about $20000, AC broke now on a payment plan because couldn't afford to fix it. I'm more in debt now being a home owner than when I was renting. I regret it everyday

[slimdude]

Never mind about what other people think, nor the peer pressure that society put on someone to buy a house as a financial status because, nobody is going to pay your mortgage or rent, but you. It depends on the individual and their personal preference, whether if they want to buy a house or rent. Being a homeowner or a renter, they both have their pros and cons, advantages and disadvantages. Neither is a bad choice! It's what a person wants, and what responsibilities they are willing to accept long term.

[duncanhill]

I keep asking myself. Is it worth owning a home in Texas? Everyone wants to move here but the property taxes are insane. We pay more in taxes than the mortgage and insurance combined.