5 Reasons To Not Buy A House

There are 5 good reasons to not buy a house.

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*Malone Financial is affiliated with the aforementioned companies. Malone Financial receives a commission for any customer conversions realized via the affiliate links. This video includes my own opinions (which do not reflect the opinions of said companies). Investing involves a risk of loss. Nothing mentioned in this video should be construed as financial advice.

[malone_financial]

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[johnm]

Your rent is the maximum amount you'll spend on accommodation, your mortgage is the minimum. Great to see someone finally point this out. Keep up the good work!

[laraking]

This is not accurate in Ireland. Rents here have doubles in the last few years. Renting a bed in a shared room in a shared flat cost more than a mortgage. 1 bed apartment is between 2-3K/m and most likely a mouldy kip.

[valentinac]

Great content. Do you have any videos on what's the best credit card one could get in Ireland?

[Edward_Joseph_]

Any chance you could do a vid on why Irish banks are not passing on increased interest rates to customers?

[smitsanghvi]

Did you not explain in your earlier video that if interest rate falls, the value of house will go up

Both are inversely related

This video only talks about one side of the coin.

[jshankarc]

Great info, simply straight to the point!!

[bardwiththeeternalluck]

Hi Dan, I'm wondering if you could do a video on buying a shed or a cabin or something similar like that which is only suitable for a single person living in Ireland. I'm not interested in buying a house anyway, all I require is just a bedroom, a bathroom and a kitchen, and I'm not looking to get married, so it's just myself I need to look after.

[peterelst]

seems to be concerns mostly about not getting a mortgage rather than not getting a house right now - admittedly not many can buy cash outright obviously

[TheAlfidele]

Hi Dan, thank you for your work!
I've heard from a couple of locals that building a house could make more sense financially (than buying a ready one) - if you have any thoughts about it, thanks!

[jimbobarooney]

I wouldn't assume that refinancing is an option, something that appears to be very common in the US. In the last crash interest rates plummeted, but i wonder how many got to refinance in Ireland, plus we have fewer banks now, because either they went bankrupt, wasn't profitable enough here, or like the vulture fund banks they ran out of prey, ether way its a cartel and refinancing means less profit which is not in the banks interest. Also apparently we have a booming economy, so the gov are proposed a big budget deficit (wtf moment), which no doubt will fuel inflation, which is really what they want but cant say it, as deflation is kryptonite to an economy

[pet_cow_]

Booom he knocks it out of the park again, thanks Malone!

[robcaseyire]

Ok... And the other option is rent until the day you die, often making higher monthly payments than you would with a mortgage and also having even less security as the landlord can decide to sell the property whenever they like and kick you out with a few months notice? What kind of a one-sided argument is this video trying to make?! Its laughable

[andreybabushkin]

Yes, but... the mortgage payments are still much lower than the monthly rent T_T

[herrop]

Bit of self discipline required. Min 20% deposit and motgage no more than x3 gross household income. If you can afford to buy under that criteria, you should be safe enough.

[Bozonezm]

I make a lot of money off of people that think like you do. Try selling rent receipts ?

[CoderDmitri]

Dan get of the Dole wil ye... ffs! (troll face)

[paddyoshocknasey]

The affordability in the UK and USA proves that study is a load of shite