Topic: Mortgage are most wrong financial decision you can make - page 3. (Read 356 times)
What a dumbass, not all your money should be put in an investing instrument, there are other forms besides the investing that you're talking about and the one that you're saying that's bad way to spend money is actually a really good investment which is real estate and we all know that real estate will only go up in value thus placing mortgage to pay for your own home is an investment itself especially if you want to settle down, renting would be bad long-term. But I can see where you're getting at, mortgage is expensive but to say that it's a bad investment isn't really a fair statement.
Mortgage in some countries is ofcourse undeniably ridiculous. But you have to understand that it's not always about buying a house it's also *sentiments as well* which is honestly very important for some people.
Some people do not want to buy a house at all, they rent for a long period of time and haven't been happier, therefore I do think that we cannot compare since money and smart decisions aside, sometimes it's important for the family.
Mortgage is a good and wise decision if you know you are living in a place where the rent is extremely expensive. Honestly look at the apartments in London, you can just buy one for 2 year worth of rent.
Therefore it's not so easy to calculate the right decision to make. But investing is ofc a good way to make that money, especially investing in stocks and bitcoins. But that too is not 100% true since you might need to encash when the value is low and might have to hold onto that.
Some people do not want to buy a house at all, they rent for a long period of time and haven't been happier, therefore I do think that we cannot compare since money and smart decisions aside, sometimes it's important for the family.
Mortgage is a good and wise decision if you know you are living in a place where the rent is extremely expensive. Honestly look at the apartments in London, you can just buy one for 2 year worth of rent.
Therefore it's not so easy to calculate the right decision to make. But investing is ofc a good way to make that money, especially investing in stocks and bitcoins. But that too is not 100% true since you might need to encash when the value is low and might have to hold onto that.
If u buy then yes but not good to take it with mortgage.
Mortgage in some countries is ofcourse undeniably ridiculous. But you have to understand that it's not always about buying a house it's also *sentiments as well* which is honestly very important for some people.
Some people do not want to buy a house at all, they rent for a long period of time and haven't been happier, therefore I do think that we cannot compare since money and smart decisions aside, sometimes it's important for the family.
Mortgage is a good and wise decision if you know you are living in a place where the rent is extremely expensive. Honestly look at the apartments in London, you can just buy one for 2 year worth of rent.
Therefore it's not so easy to calculate the right decision to make. But investing is ofc a good way to make that money, especially investing in stocks and bitcoins. But that too is not 100% true since you might need to encash when the value is low and might have to hold onto that.
Some people do not want to buy a house at all, they rent for a long period of time and haven't been happier, therefore I do think that we cannot compare since money and smart decisions aside, sometimes it's important for the family.
Mortgage is a good and wise decision if you know you are living in a place where the rent is extremely expensive. Honestly look at the apartments in London, you can just buy one for 2 year worth of rent.
Therefore it's not so easy to calculate the right decision to make. But investing is ofc a good way to make that money, especially investing in stocks and bitcoins. But that too is not 100% true since you might need to encash when the value is low and might have to hold onto that.
Realistically, if you have the money for a house, you might be better off taking out a mortgage at 2% interest and investing in stocks and making 4% though so it depends on where you are I guess (stocks were used as an example as I'd consider them more stable and you can diversify globally quite easy with them and 4% is often returned from utilities)...
[not financial advice]
[not financial advice]
Lets do the little calculation why
You buy house or apartment with total 300,000$
You have to put down payment of 15-30k ...wich is all ready bad.
With this 15-30k you can make more money in 1-2 years by investing it on gold stock IPO usually 5x-10x return of good ipo if u buy before listing.
With crypto u can make easy one year 100k of this if you divide this money small percentages. And buying dips of btc and some othet good coins.
But if you put money down on mortgage that big and it takes 20-30 years to pay back mortgage well the chnages are u never going to pay off this also you put your capital wich has a lot good ways to use just giving away your hard earned money.
Mortgage without high rate and without downpayment even not smart but with downpayment no right in their mind will never do that.
You better rent if you can afford downpayment the money u r willing to put down for the downpayment u can live one year in decent apartment and you have money free to use.
Second thing is it smart to buy property ?
Only smart is you want to let and making profit out of it.
But to be smart with money you can buy items only wich not exeeds your 2% then you stay in preospeurs state in your life.
How do i know its time to buy or sell ?
Its so simple if dollar strong.....you sell dollar.
And buy back weaker dollar to get cheaper dollars.
If inflation hitting hard its a top on markets so no goestions about it you sell everything if inflation going lower you buy everything.
Do not worry about something you sold at the ATH and it keep going higher after this its a " overbought" the fools trick. The price will come down sooner or later make sure u sell at green all gold real estate stocks and crypto.
As we see so many easy opportunities to use money smart to but it down on mortgage payment its a clearly wrong doing with ur finances and waste of money.
If you put down payment on mortgage its money you just trhow away and never gona see it.
You buy house or apartment with total 300,000$
You have to put down payment of 15-30k ...wich is all ready bad.
With this 15-30k you can make more money in 1-2 years by investing it on gold stock IPO usually 5x-10x return of good ipo if u buy before listing.
With crypto u can make easy one year 100k of this if you divide this money small percentages. And buying dips of btc and some othet good coins.
But if you put money down on mortgage that big and it takes 20-30 years to pay back mortgage well the chnages are u never going to pay off this also you put your capital wich has a lot good ways to use just giving away your hard earned money.
Mortgage without high rate and without downpayment even not smart but with downpayment no right in their mind will never do that.
You better rent if you can afford downpayment the money u r willing to put down for the downpayment u can live one year in decent apartment and you have money free to use.
Second thing is it smart to buy property ?
Only smart is you want to let and making profit out of it.
But to be smart with money you can buy items only wich not exeeds your 2% then you stay in preospeurs state in your life.
How do i know its time to buy or sell ?
Its so simple if dollar strong.....you sell dollar.
And buy back weaker dollar to get cheaper dollars.
If inflation hitting hard its a top on markets so no goestions about it you sell everything if inflation going lower you buy everything.
Do not worry about something you sold at the ATH and it keep going higher after this its a " overbought" the fools trick. The price will come down sooner or later make sure u sell at green all gold real estate stocks and crypto.
As we see so many easy opportunities to use money smart to but it down on mortgage payment its a clearly wrong doing with ur finances and waste of money.
If you put down payment on mortgage its money you just trhow away and never gona see it.
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