Should You Stop Investing To Save Up For a House?!

Should You Stop Investing To Save Up For a House?!

[Roy]

Staying put in the same house for over 20 years has really helped me in my wealth building, Thank God I like the neighborhood, LOL

[tinawelch]

This is a really big question that I've been wondering about; I appreciate both of your honesty!!! 😉

[ahumm]

A house is an asset if the mortgage is not a struggle to pay and you can keep the property maintained! It is a liability if the mortgage is not within your budget and you cant afford to maintain it, like when you have subpar credit and you have a higher interest rate and hopefully not a variable rate mortgage. In short, if you can pull equity out of your home it shouldn't be a liability!

[justfine]

I absolutely love you guys. My financial situation is fairly interesting, but it is also pretty simple. I think you guys should take people like me, and do an analysis, and show what people are doing right and wrong. I’d be willing to be completely transparent. Keep up the good work. You guys are great for the financial nerds and prodigious savers out there. 👍🏻👍🏻🤑

[feliciahitch]

Love the honestly here! You guys are so refreshing and make me feel confident about my financial goals. I had been researching this topic as well because as an aspiring first time home buyer I didn’t believe 20% was realistic in my situation. Thank you!

[mitchandheidi]

We bought out first house at 24 with 5% down. We lived there for 8 years and started our family. The house didn’t appreciate much ($15k total), but we were still able to put 40% down on our second house.

In retrospect, I wish we would have stayed in an apartment until we were 26-27 and traveled more during our mid 20’s.

[rs]

I’m in the same boat. Except I already saved 20% and still not investing because markets are HIGH!!!

[OmahaTonyG]

I put 3.5% on my first primary residence, which by the way was a 4 plex that I still own. I put down 5% on my second primary residence, which I still own and turned into a rental after I moved out. I put down 5% on my third primary residence where I live currently.

Basically I bought 3 properties with $24, 500. Since buying them I have realized $300, 000 in appreciation not to mention cash flow from the two that are now rentals.

My advice is to always pay the smallest down payment possible. Use the rest of your cash to invest elsewhere.

[theDanDeleon]

I don’t understand why Financial Advisors always talk about “you don’t have to put down 20%” NONE OF THAT PERCENT DOWN TALK MATTERS IF YOU CANT AFFORD THE MONTHLY PAYMENTS!!!

[Annamalaibatsha]

This is the first time I am watching this on youtube, you guys are awesome. I am regular listener in iTunes podcast and never missed any episode. Good job guys, keep it rolling. One of the best podcasts out there that is honest, fast (not wasting time by discussion on random unwanted topics). To the point podcasts are awesome. Thanks

[db]

Buying a house does not include the maintenance on a house. MOST overlooked aspect of homeownership.

[scottalbert]

I live in Dallas, TX where property values have skyrocketed in recent years. I’ve been renting and if I but a place similar to what I’ve been renting, my monthly housing expense will increase by at least $1, 000 a month (not to mention the cost of maintenance and upkeep). This also assumes that I put 20% down at the time of purchase. Do I continue to rent or pay the extra money and buy something? I’ve been renting the same place for 8 years now and pay ~$400-500 below fair market rent.

[josephbrock]

I’m ahead seven years on my Roth IRA investment based on a $200 /month for ten years. I am considering stopping to invest in it for the time being. My wife and I have well over what we need for a 20% down payment, (just in case). We have an emergency fund of 3-6 months living expenses and no debt. ✅ No credit. ✅ My wife and I’s goal is to pay hard cash for our future house a couple years down the road. We are in our early 20’s. It’s possible for anyone if you work hard and stick to a tight budget. You’ve got to live weird and your lifestyle will be unpopular, opposed to those who live off what they don’t have.

[ThinkMoneyBenny]

Own Your House Don't Let Your House Own You ~


That's The Motto

[alexfinn]

You are 23 and know nothing. You don’t need a house right now. Build up your retirement and investing accounts to capitalize on the multiple times over return from starting at 23. Spend time now reading and learning instead of mowing your lawn and fixing your water heater.

[THEFLYBOYWAY]

Does the guy not have a clue that you can save for retirement by putting the money in your 401k tax free and then when you are ready to by a house at 23 just borrow the money and buy the house. 95 percent of retirement 401k allow you to borrow the money from your retirement 401k to purchase your primary home 🤷🏾‍♂️ also I Could have put 20% on my firs house but decided not to cause the equity after 5 I in repairs made it worth over 20 percent thus no pmi..