If You Can't Afford A House, Don't Buy One - Dave Ramsey Rant

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[larry]

I'm 27 and I got my house in 2011 and now its 2016 November 1st it will be paid for in full no more mortgage payments

[kbryant]

If you have to rent, rent the smallest, most economical and safe place you can find. Save your money. Then buy a home within your budget. ☺

[IamSpiritful]

I think best way is to rent a room from someone's home for $400/month, live a very simple life to save up money and buy an inexpensive home with saved up cash. Then the bank doesn't control you.

[YurithReyna]

Im only 21 and I dont know how I end up in your channel. But Im glad i did!👍🏼😀

[Dracule]

To the folks talking about rent being more expensive where you live than mortgage payments: That's going to be true pretty much everywhere, because your landlord has to pay the mortgage if they have one and still make a profit. Here's the thing you're not considering, though: maintenance costs, home improvement costs, and possibly utilities that are included in that rental cost. Plus most people get a bigger house than where they rented, so utilities will go up due to that as well. It's not going to be as simple as $1, 000 rent vs $800 mortgage payment... it's probably a lot more like $1, 000 rent vs $1, 000+ mortgage payment/maintenance/increased utilities cost, etc.

[summertime]

I lived in a house all my life. My parents struggled everyday to pay the mortgage and keep the house up to date. I am broke, I can't afford a house right now. I live in a Townhouse and love it. One day I will buy a house but not now. It takes money to owe a home trust me,

[BALLINBUSTA]

"Mortgage brokers" - this made me laugh!

[TheRamseyShow]

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[slomo]

In 2006 our neighbors financed 100% of their home. They would not live within their means and went broke quickly and gave up the house in 2008- just as the market crashed. The house sat for about 8 months and the next couple to buy it wasn't married and their relationship folded. My neighbor now bought it for pay off so #2 who bought it on the cheap could get out from under it.
Neighbor #3 had $80k in equity on the home the day he moved in eight years ago.

[baluxyanahiam]

There's a movie called the big short it explains what he talking about

[ImprovementisGrowth]

Years ago, my sister keep after me to buy a home, but I never want to be my own landlord. I never brought the idea that you HAVE TO BUY A HOME . With renting, I can pick up and go, not stuck to a house.

[jaybartgis]

the idea of everyone owning a home is nothing more than everyone getting a participation trophy and being apart of the trophy generation

[NotheBS]

Worst mistake i ever made was buying. Kids, rent don't buy the only way to get the money from your own home is to sell it and live in a tent or die.

[JTDyer]

Problem is it's not fun to save up and pay cash for a home. It takes a ton of work and sacrifice which most people are not willing to do. Les Brown says, "you have to be willing to do the things today, others won't do, in order to have the things tomorrow, others won't have."

[Soorkh]

I don't understand home ownership at all. I haven't met  a single person who doesn't have to work like a dog in order to afford their mortgage. Yes, they make money but they work non stop. Is that supposed to be normal these days?

[jacintatate]

Here is Australia (Melbourne) houses are going for over $1.2 million. It's to the point of ridiculous and young individuals like myself don't have a chance to buy a house. Even rent is expensive on a minimum income. : ( should I just move to the countryside?

[davidcadman]

wish you had been around to back me up in 1988 when my ex father in law convinced his daughter to buy a house with 7% down and a first and second mortgage... I wanted to buy something we could afford, which would have been 40% down... and a fixer, which we could have turned over quickly if necessary... instead in 6 months the house they bought (I was just there to sign on the dotted line) lost 31% of it's value and dropping... we nearly lost it when we had to renew the mortgages 4 years later... 2 years after that we were separated and heading for divorce...
today there is another bubble, and the house is 'worth' 200 thousand more than the purchase price... but with interest on the mortgages, and lines of credit (which are still unpaid), up keep and improvements, I'm not sure that there is any profit on the investment...
A house is not necessarily a good investment, if you can't afford the payments or upkeep....

[ChristysChannelYall]

I rent. I’m a single parent and my kids (twins) are about to go to college (not on student loans). Home ownership would cost a lot more for me than this little apt, especially with the upkeep I’d have to pay. My landlord has had to replace the HVAC unit completely, stuff in the walls and all, the fridge twice, and there are so many other things that need fixing that I just don’t worry about because I don’t use them. It is cheaper and less worrisome for me to just pay the rent.

[sweetfayce]

I will be a home owner next August, not a loan owner. Buying 100% cash and it didn't take me 15 or 30 years to save for it🤷🏾‍♀️

[Wendy-illu]

just like some people i know who rarely work and waste their money on drugs, yet they are able to rent the nicest apt in town.