- This topic has 8 replies, 2 voices, and was last updated 6 months, 3 weeks ago by Simple_Yam.
- Saturday, May 14th, 2022 at 11:40 #272910spacecat002Participant
I’d swear that Elon Musk lives on [rent](https://twitter.com/elonmusk/status/1256239554148724737?s=20).
I heard online that the apartments will eventually lose value, and it will be cheaper to rent (not shure).Saturday, May 14th, 2022 at 12:03 #272912Mallardshead
Houses are a terrible idea unless you have a family, specific school, and longterm job/business you’re targeting in a specific county. You’ll find that taxes, repairs, special assessments, insurance, and a mortgage add up quickly. And now rates are rapidly rising.
You buy more bitcoin. The house will depreciate over time against its deflation. You’ll be sitting in your new 30 year debt sentence miserable. In 2019 I convinced a friend to buy the house with $50k down payment instead of BTC. He had twins on the way and family business nearby. The neighborhood was in a full upswing, $10T hadn’t been printed, and in the end, his house doubled from 450k to 900k. It outperformed BTC for what he invested. He sold it, pocketed the original 50 and is now renting. The profit is going into miners (MARA, RIOR, CORZ) and BTC.Saturday, May 14th, 2022 at 12:03 #272913my4coins
If you have decent rent and also have choice between buy an apartment for your savings or buy bitcoin (which you hodl least 4 years of course) then there is only one answer.Saturday, May 14th, 2022 at 12:14 #272911JSammut29
You have no independence living in borrowed property.
Get cheap debt and buy a house. If the value goes down the bank won’t come calling, unlike margin on crypto which will have you empty handed if it goes down. Once you understand the market better, buy another one to rent out and let them pay themselves.
Create wealth, store it in bitcoin. Further the cause. Or don’t create wealth and hope some other wealth creator pumps your coins. 👍Saturday, May 14th, 2022 at 12:29 #272914GroovyFat
Cheap rent, live frugally and stack. Sleep like a baby.Saturday, May 14th, 2022 at 12:35 #272915Express-arnaud
Are you comparing your situation with Musk’s? Ahah
Joke aside, main benefits of owning your home is capital appreciation and leverage (thanks to the mortgage). Musk surely doesnt care about any of that. He probably sees owning a home more like a constraint than anything else.
You have lots of calculators online to help you benchmark renting vs buying based on your particular situation. Depends on too many variables. Make your business case.
I’m sure Musk’s businesses own their offices when it makes sense for them. And rent when it does not.
On a side note, having a home fully paid off is prob the safest thing to have when you reach retirement.Saturday, May 14th, 2022 at 12:35 #272916mr_flibble_oz
Depends on the market. In AU property prices are insane, don’t know how if it’s out performed Bitcoin, but it’s been a safe bet for the last 5 yearsSaturday, May 14th, 2022 at 12:46 #272917geraltoftakemuh
This is why everyone was screaming to buy property when rates were low two years ago. I refinanced to 2.75% and I assure you my mortgage payment is way lower than any rent I would pay.
But yeah family is the other factor, I have kids so a tiny apt won’t cut it.Saturday, May 14th, 2022 at 12:48 #272918Simple_Yam
House wtf, a place of your own to live and settle in is more valuable than anything else.
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