If Bitcoin goes up very high should i buy a house? - page 101.

lolxxxx

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Quote from: doublemore on October 29, 2015, 04:04:54 AM

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage. Is that even a good idea though? - basically 80% of networth in a house hmmm. On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

@OP .. it depends on your number of bitcoins. I would say sell them at 300 or 400$s. If you have enough bitcoins to buy a house then sell them because the price of the property always increases . OR you can give your house for rent to make money

\
buying a house is the best idea

doublemore

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Quote from: AtheistAKASaneBrain on October 29, 2015, 09:42:41 AM

If you buy a house directly with Bitcoin, you will still need to pay taxes. You will need to report your Bitcoins to the IRS or whatever your country has, because you can't hide a house.. they will find you have a house sooner or later. So before you think about it, consider the % of Bitcoin that will go to taxes first, because maybe you don't have enough to buy it.

Since im self employed i think i get something like 20% captial gains tax in the UK on any cashed bitcoin so yeah its going to suck.

Will just be a very small place for cheap because thats all you really get in the UK unlesss you have $300k+. No way i sell all my coin ever.

Anyway i need a very high price but i think its coming.

Mickeyb

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Move On !!!!!!

Yes OP, you should buy it. Renting sucks. You are basically giving money away to somebody even though they let you live in it I know, but that 1st of every month comes very, very fast.

To have your own home is the best thing you can do and invest into. This is also a first thing that every smart man should invest into. Screw the cars, going out, nice clothes, etc.

Paashaas

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Quote from: pawel7777 on October 29, 2015, 08:50:15 AM

Quote from: Paashaas on October 29, 2015, 08:31:53 AM

Remember the pizza guy with his 10.000 coins? think what you can buy in 2015 with all those coins.

Please stop using this argument. If not for the 'pizza guy' and others who were giving away hundreds if not thousands of coins, Bitcoin probably would never go off the ground.

Is it really that hard to do some calculations by youre self? That 10k coins is a indicator just like when BTC was worth $0.10-$1-$10-$100-$1000.

qiwoman2

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I would buy a house for fore. I am still living on rent and you always have the innate fear of getting kicked out. I would love to be queen of my castle but what I would do is use part of the btc to buy a house or sell most of it then if it went down again and was bearish then I would buy more cheap coins, rinse and repeat..

AtheistAKASaneBrain

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If you buy a house directly with Bitcoin, you will still need to pay taxes. You will need to report your Bitcoins to the IRS or whatever your country has, because you can't hide a house.. they will find you have a house sooner or later. So before you think about it, consider the % of Bitcoin that will go to taxes first, because maybe you don't have enough to buy it.

Corealz

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It is good to have a house so you don't need to pay rent. Make sure it is in a good location that will keep its value.
Perhaps you should look into building it yourself.

pawel7777

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Quote from: Slark on October 29, 2015, 09:19:07 AM

Quote from: doublemore on October 29, 2015, 05:39:28 AM

...
Where i live in UK the market is pumped to the sky. Sad

but how much could it really crash, down by half at best? not like a bitcoin crash, the land will always be worth something even if the bricks aren't.

Market in UK is not even that big. I am surprised than it is so hard to buy or trade bitcoin in England.
They have some really strict exchange politics and fees are ridiculous compared to other countries.
I don't think that GBP bitcoin market has a great impact on bitcoin price.

Read before replying.

The post you've quoted refers to property market in the UK, not Bitcoin market.

Slark

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Quote from: doublemore on October 29, 2015, 05:39:28 AM

...
Where i live in UK the market is pumped to the sky. Sad

but how much could it really crash, down by half at best? not like a bitcoin crash, the land will always be worth something even if the bricks aren't.

Market in UK is not even that big. I am surprised than it is so hard to buy or trade bitcoin in England.
They have some really strict exchange politics and fees are ridiculous compared to other countries.
I don't think that GBP bitcoin market has a great impact on bitcoin price.

darkangel11

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Don't let others control your BTC -> self custody

You should. Buy an apartment in one of the biggest cities if possible and you're set. Unlike a house, you'll always be able to rent or sell it.

pawel7777

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Quote from: Paashaas on October 29, 2015, 08:31:53 AM

Remember the pizza guy with his 10.000 coins? think what you can buy in 2015 with all those coins.

Please stop using this argument. If not for the 'pizza guy' and others who were giving away hundreds if not thousands of coins, Bitcoin probably would never go off the ground.

richardsNY

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Real estate investments are good to have in your portfolio. I will most definitely do the same if the price gets high enough for me to afford a house.

Anmol_Verma

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Yes say if you bought bitcoins at worth of a car and
now it's worth is such that you can buy a house then
sure go for it Grin

else store and hold bitcoins as much as you can and cashout when it's 2000x in value when you bought it.

Q7

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Your should use your bitcoin directly to buy the house instead of converting to fiat and then use it to pay. It's your bitcoin anyway, so it's up to you what you wanted to do with it. Property should be a good investment and it's like diversifying your portfolio and spread your risk around. I already have my plans on what I wanted to do with mine

RodeoX

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The revolution will be monetized!

I think it's a smart move to diversify. This is still all a social experiment and is far more likely to go away than real estate.

crazyivan

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Quote from: doublemore on October 29, 2015, 04:04:54 AM

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage. Is that even a good idea though? - basically 80% of networth in a house hmmm. On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

What does very high mean? I suppose you mean $10k per BTC? More?

Investing into real estate is always a good way to preserve your wealth over time. Maybe you can a property which can be leased as well? Why stop?

Paashaas

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Quote from: prodigy8 on October 29, 2015, 06:38:26 AM

Because a house can't be bought with 1BTC - 100BTC.

You can buy a house after a few bullruns with that amounth of coins.

Remember the pizza guy with his 10.000 coins? think what you can buy in 2015 with all those coins.

Reinvesting youre profit in a new house is a real good move imo.

TastyChillySauce00

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Quote from: doublemore on October 29, 2015, 04:04:54 AM

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage. Is that even a good idea though? - basically 80% of networth in a house hmmm. On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

ofcourse you can, but it only happen if you have much of btc or atleast have pretty much btc for buyin somethin

prodigy8

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It depends on how much are you holding.
Because a house can't be bought with 1BTC - 100BTC.
I was thinking if you are selling your house and buy btc and then when the price increases to buy another house.
This is the most worst action to do, anyway good luck.

pawel7777

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Quote from: doublemore on October 29, 2015, 05:39:28 AM

...
Where i live in UK the market is pumped to the sky. Sad

but how much could it really crash, down by half at best? not like a bitcoin crash, the land will always be worth something even if the bricks aren't.

50% crash is not probable. Although if UK was to leave the EU, that could lead to much less demand and in turn to properties prizes drop.

The good thing, if you're buying house (cash, not mortgage) for yourself (not to rent or re-sell), is that you don't have to be that much concerned about its value. All that really matters are your monthly costs, and the amount you save as compared to renting or paying mortgage.

As for land, you do have a point, but you don't know what the future will bring, the government can introduce tax on value of property (catastral tax), to prevent speculative land holdings and to generate more income.

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