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When to buy a flat/house?

Discussion in 'General Discussions and Lounge' started by btmdario, Aug 18, 2014.

  1. btmdario

    btmdario Moderator moderator Affiliate Manager affiliate

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    What do you think when it`s the best timing for buying a new flat/house?
    When did you feel that you can buy your own flat/house and your business will stay stable because of that expenses?
     
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  3. jay smash

    jay smash Affiliate Manager Affiliate Manager affiliate

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    I have never ever bought anything on a payment plan, lease etc.. it's a waste. You can only afford it if you have the money to pay it cash. If you can't do that it's just not the right time to think about it as it adds extra overhead / stress to your business every month.
     
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  4. tuan smash

    tuan smash Affiliate Manager Affiliate Manager affiliate

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    Don't buy a house if you can't afford one... There is NO perfect time to buy a house regardless of the market or what others say.

    Buy a home when it's a good time for YOU. That means having enough down payment, and cash reserves to remodel and furnish
    your home.

    There is NOTHING wrong with renting, sometimes that can be more cost effective.

    I would rather rent in an area that compliments my lifestyle than buy a home in an area I do not like just to say I "OWN" a home.

    Don't make yourself be in a position to be committing long term to something... UNLESS you can truly afford it.

    Nothing wrong with real estate, I love it, but do it for the right reasons.
     
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  5. btmdario

    btmdario Moderator moderator Affiliate Manager affiliate

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    I guess you misunderstood something here:) I was talking about something like this:

    Once you made 5x more money settled on your back account(profits from your business / your own money) than a price of house/flat, would you buy a new house(your own money) or you would still reinvest it?
     
  6. tuan smash

    tuan smash Affiliate Manager Affiliate Manager affiliate

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    ONLY if you feel that is something you want to do.

    I like to stay liquid, and reinvest my money but at the same time everyone needs a place to live.

    Comes down to renting or owning at that point.

    And diversifying.
     

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