Is it best for a MGTOW to buy a home or rent an apartment?

ADLeezard · 2018-12-16T00:32:07+00:00

I live in a converted van. I don’t pay a mortgage or rent and can travel whenever I want.....and I make decent money as a skilled trade worker, so I’m on track for a super early retirement.

You don’t really need a big expensive box to put your furniture in if you aren’t trying to attract a mate. You can rent a big storage unit to use as a shop for projects and stuff for a fraction of the price of an apartment.

Just a third option to consider.

Or get an RV or a live aboard boat!

DWShimoda · 2018-12-16T01:42:20+00:00

Rent for several years while you're getting your career going... allows you to switch locations & jobs (best way to get substantial pay raises) much easier.

Buy ...a decade or so later... when you're career is peaking/plateauing and you're about to "retire early" (within a few years of doing so*) and have some idea WHERE you want to do that; where you want to live & establish a pretty permanent ** "home base" -- also by then you'll have a much better idea where you DON'T want to live.

* Ideally you'll have been living frugally while saving & investing, and will be approaching "financial independence" -- which BTW in and of itself gives you more confidence & thus negotiating "power" in terms of jobs/pay, etc -- and thus able to either buy a place with CASH, or else at least put a hefty (25%+) down-payment and be able to pay off the remainder of the mortgage in a handful of years.

** Basic rule of thumb is that selling/moving in LESS than 5 years is a money-loser -- it takes approximately that long to recoup the "transaction costs" of a real estate deal (title search, realtor commissions, loan origination fees, etc -- those usually equal about 10% of the property's sale price) -- so you don't want to be buying unless you seriously expect to live in the place for MORE than 5 years (at a minimum)... longer (10+, 20+, 30+ yrs) is even better.

DangZagnut · 2018-12-16T00:45:25+00:00

Two schools of thought on that.

Are you buying someplace for investment purposes, where that becomes your primary investment vehicle for the future, and will be where you end up stashing most of your money now and in the future?

Because that's what a house is whether you like it or not. It's a liability that costs you a huge amount of money and at best, holds some of that value to sell one day.

Renting, as you said, has the benefits of being able to be ended whenever you want, something you can't always do as a home owner as property is not liquid, which means as a renter you can respond to a changing economic situation much faster. Of course, you're constantly putting in

My philosophy when it comes to property is that you need to treat it like an assets and not a liability. In this case, I'm not talking stupid accounting definitions, I mean liabilities produce expenses, and assets produce income. Buy property for rental purposes, or for capital appreciation. In other words, treat it like a stock or bond or something where your goal isn't a temp place to store your shit, but something to rent or resell at higher value.

If you're going to rent, see how you can set yourself to write as much rent off as you can for tax purposes.

madmarvcr · 2018-12-16T02:00:42+00:00

I bought a small 2 bedroom condo when housing wasn't doing well. No mortgage. After my divorce, I rented until I had enough cash to buy the condo. I was able to retire at 58, I'm 60 now.

tramese · 2018-12-16T03:31:51+00:00

you will always rent from the state....even if you "paid off your mortgage". it's called property taxes. if you don't pay it, you find out who really owns the land.

do you prefer liquid capital that can move freely? or do you want to invest in the state where if shit hits the fan, it can all be confiscated (yes this has happened many times over history).

Slideri812 · 2018-12-16T05:09:57+00:00

The calculation I use is this: Which is cheaper Rent or Mortgage? If I average my down payment out over 5 years and add that to my monthly mortgage how does that compare to rent? Also, Will I be in this location for at least 5 years? And finally, after 5 years if I want to sell if the area Appreciating or Depreciating? Because when you want to sell you don't want it to take very long and you don't want to just break even?

But, "breaking even" on the purchase and sale prices can still net you the equity back into your pocket. But you need to put the formula together and do you research to get comparative numbers that will help you make the right decision.

I would caution you to remain minimalist. Do not become a slave your property and Possessions. To many people all too often end up staying and paying for a place just to keep their "things" that are in the end virtually worthless. Most times people are simply a slave to crap that has accumulate.

Another option is look at the cost of rent a house OR renting an apartment and find a space to rent to have as a wrokshop or garage. IN larger cities you can often find communal spaces like this for rent.

ilikerelish · 2018-12-16T23:06:30+00:00

It is a matter of choice or lifestyle. I am buying a very reasonably priced home because i intend to stay put or rent it when its mine free and clear. If I were one of the many young nomads in here this would make no sense, and renting would be more attractive. If I were a pump and dumper owning would have a net negative effect too, as it would give a female the ability to find you easily, and something to take away. The reason i want to own is because once I do.. no one can tell me to gtfo.. Its mine, and i don't have to keep throwing money away in rent. Results will vary from man to man, make your choice on what most positively affects you.

cyborg_type_darkness · 2018-12-17T13:56:09+00:00

If you're going to buy a house I wouldn't go into debt for it.

[deleted] · 2018-12-16T03:19:08+00:00

Very interesting topic and glad you asked it as it is something I think about as well.

For me, I want to escape the system if you will and want to be self-sufficient and hopefully not rely on money so in my case I want to buy my own land, generate my own electricity and water and grow my own crops.

This way, I do not need to rely on money and only need it for emergencies like crops not doing well, I can also pretty much do my own thing so long as I do enough to make sure my needs are met.

MuchIndependence · 2018-12-16T03:35:44+00:00

If you want peace, quiet and space for a workshop you could buy unzoned land in the rurals near a smaller city for as little as $50k and throw up a nice quonset hut.

Quenten01 · 2018-12-16T03:38:50+00:00

Buy a house, I’m 21 and plan on buying a house in the future

kyledontcare · 2018-12-16T04:22:30+00:00

If you can afford it, do it and buy a place.

suhmydudessssss · 2018-12-16T04:27:59+00:00

It's best live in what you want to live and can afford.

Is it best for a MGTOW to buy a home or rent an apartment?

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Title	Is it best for a MGTOW to buy a home or rent an apartment?
Author	NoodleeAppendage
Upvotes	17
Comments	31
Date	December 16, 2018 12:22 AM UTC (7 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/a6kg9u/is_it_best_for_a_mgtow_to_buy_a_home_or_rent_an/
Archive Link	https://theredarchive.com/r/MGTOW/is-it-best-for-a-mgtow-to-buy-a-home-or-rent-an.442208 https://theredarchive.com/post/442208