Why Home Ownership is the Worst Investment

Should you buy your house? Or should you rent your house? I want to talk about why your house is a terrible investment
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Should I buy a house? What's better - buying vs renting? I always wondered this question on whether I should ever own property. It's one of the most common investing 101 questions. In this video I want to explain real estate as it relates to home ownership and why I think it's a terrible investment.
To demonstrate this in the best way possible, I sat down to have a conversation with myself - Andrei Jikh to discuss what the worst investment would even look like. Enjoy, don't forget to smash that like button and subscribe!
Link to JL Collins:
JLCollinsnh.com
Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!
*Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
#realestate #homeownership #rentvsbuy

[@cherrytung]

*Graham Stephan has left the chat*

[@k.chan.1583]

Lol that’s what I was thinking. He’s probably about to do a review of this video now 😂

[@cherrytung]

@@k.chan.1583 On the Graham Stephan show? I can 100% see that happening!

[@exgamer07]

He actually did a “reasons not to buy” video.

[@cherrytung]

@@exgamer07 Yes he did. It's a joke :)

[@chickendude4299]

Cash Flow Bitches!

[@303juggalolsp]

a car is the worst investment literally loses 40 percent when you drive it off the lot and goes down every year

[@303juggalolsp]

@Bob Smith So is a house but a house goes up in value and and builds equity, which cars do not

[@303juggalolsp]

everything is an investment

[@viciousdinosaur]

I never understood where this idea comes from. I wreck my 3 year old Corolla a few years back and the insurance company wrote me a $3000 cheque because the car was worth more than I paid into it. Toyotas hold their value very well all things considered. But anyway, a car is not an investment. It's a necessity. That's like saying food is an investment.

[@303juggalolsp]

a house is a necessity as well do you live outside? like 90 percent of cars are depreciatting by the day you could buy a 2020 car today and by next year it will be $20k less in value and continue decreasing imagine if your house or stocks were like that where as with houses you could have bought in the 90s for 100k and the house is worth 3x that amount now also are you figuring the costs to maintence and run that vehicle , pretty sure in most cases it would be more than $3k from gas, insurance, oil , tags , plates, tires and everthing else that goes wrong money you put into a car isnt always added to the value when you sell because the pricing is always based off of age and model of the car where as whatever maintence on a house you do will increase the value and also help negoitate closing costs if theres no need for fixes

[@truegs88]

Having a car isnt necessary. Its an investment to help u get places. Food is necessary because you have to eat it to live or youll die. You wont die without a car.

[@veksone77]

"you can sell stocks instantly" *Robinhood has entered the chat

[@Blackdiamond929_]

🤣🤣🤣🤣

[@yellowjacketgaming6768]

*limitations applied due to volitility*

[@michaelguild]

I saw this and laughed at every point...and then looked in a mirror and cried a little :P hahahhahaa

[@ganymeade5151]

Homes are overpriced due to greed. People should never buy overpriced homes.

[@TheLukaszpg]

Haha that is spot on and so funny. And yes, I am a home owner without the mortgage. What it comes down to is that your home is NOT an investment. It is your home :)

[@AndreiJikh]

Thank you! Agreed! 😎

[@David-ej1ps]

@@jacoblloyd2573 you got it, a house you buy as an investment vehicle is not a house you live in, a house you live in is a house you rent for the reasons mentioned in the video

[@DHOBSESSIONS]

totally, u nailed it, I love my home

[@mistert6552]

@@David-ej1ps In other words, your home is a liability, your rental is an asset.

[@David-ej1ps]

@@mistert6552 you got it... understood one hundred percent

[@AndreiJikh]

Haters will say it's video editing... #fake

[@utsavpaudel1054]

It's video editing 😏

[@PaulVazquezJD]

Andrei Jikh What do you think about my investment Hack? kzbin.info/www/bejne/mIDImKWed72gbLs

[@E_mailMeLater]

You are crrrrazy🤗💚

[@mrgoogan]

You and your good looking friend really opened my eyes 0.0

[@djtkm]

Awesome video as always...

[@StephenMichaelElliott]

Purchase multi-family. Live in one, rent the others. Sort of a hybrid that extracts value from both sides of the spectrum. Andrei, excellent videos. You are making great content, and it is appreciated. -Stephen

[@cicirunner]

I thought buying a house was the best investment, and in ten minutes you completely changed my mindset. Impossible to buy a house in California and I don't want to be strapped for cash when I love to invest. Great reassuring video

[@InvestingEducation]

The first house is probably not a bad decision. Peace of mind is priceless. After that stocks provides more value.

[@AndreiJikh]

I always say you can't put a price tag on a peace of mind. It's interesting that some people derive that peacefulness from ownership (landlord can't tell me what to do or when to leave), and others get it from renting (less commitment, more freedom, let someone else worry about repairs). Can definitely debate it without finding the answer

[@InvestingEducation]

@@AndreiJikh good point

[@Mzlove84child]

Renting has been stress free for me for years, landlord handles EVERYTHING, promptly. My rent doesn’t fluctuate, same set price as when I first signed lease. All while having a “peace of mind”

[@ivanlee6642]

He say this because he isn’t married or have kids yet haha

[@DivkvanDyke6913]

@@ivanlee6642yeah, having a house totally makes your marriage better. Nothing better to add to your marriage than another giant expensive kid to take care of that doesn’t love you in return and keeps you from being able to move anywhere to get a better income. No offense but I own a house and I would rather take care of a person in a vegetative state than deal with this bullshit.

[@Jon-wf3tg]

You may think this is cynical but it’s actually spot on. A home is the worst investment you could ever make. There may be one or two special situations but the average person will be squeezed to death by capitalism and corporate greed. Insurance. Repairs. Maintenance. Replacements. Law suits. Taxes. More taxes. Weather. National interest rapes. Buying and going upside down for years. Gonna rent it out ? LoL …. Okay so your insurance has tripled and your maintenance has doubled and chances of law suits have quadrupled.

[@Littlesensai514]

This is the most underrated video out rn omg

[@travishafner157]

There is a limited supply of housing and is a basic human need. It isn’t hard to see as population increases that your house appreciates, this dude just loves his dividends

[@richardfernande4142]

Bitcoin is a good business anyone can think of doing. I trust bitcoin

[@mrsteve7539]

Depite the economic crisis and pandemic situation of the world presently. I think this also the right time to invest in Bitcoin. Most especially with the current rise

[@tmoney5528]

I agree, mostly. One of my first courses for my Bachelor's in Accounting was a communications class, and instructor had us give a speech on ANY topic we wanted to. I gave my presentation on the pros and cons of renting vs. owning a home, and stated why renting has so many advantages over owning. Nevertheless owning does make sense for many individuals and can be the way to go, so it's not ALWAYS a bad route.

[@AdamMason]

Would love to see a spreadsheet or breakdown of homeownership.

[@deanpountain5094]

Spot on! I love your channel!! I just purchased my home last year and I'm loving it. It most definitely is more of an emotional thing. It isn't cheap but well worth it to me personally and it's not for everyone.

[@wesleylagomarsino7129]

Well done. Thank you for the less popular but, factual perspective.

[@shamone10]

"I like your watch and rugged good looks" had me in stitches, you got a like for that!

[@AndreiJikh]

LOL, thanks George! :)

[@TIB1973]

Found and purchased my house within a week.Once I knew I wanted the house, I let my agent do the negotiating while I drove back to my apartment.I took 2 phone calls from my agent with their offers but stuck to my guns. the last conversation was me telling my agent the 3rd call is either they accept my offer or anything else was the end of the deal.3rd call was they accepted.4th call was they wanted to throw in either a fence or Air conditioning, I chose AC...duh.5th call was they had extra blinds and window treatments, did I want them...yes.Later that week I signed the paperwork on my lunch break near my work.I paid no agent fees, the seller did.I paid no closing fees, the seller did.I paid no PMI, the VA did.Listing price was X, my deal was for $22K below that.Its appreciated $110K in 4 years. The buying experience was easy, cause I honestly didn't care if I got the house or not. My agent said it was the fastest negotiating he has done.... could have been blowing smoke.I am making additional payments on principal and should have this house paid off in 12-15 years at which point I plan to sell it. This will depend on where the market is. I do plan on atleast 1 housing down turn within in that timeframe....I am fine with that.This house was new construction, everything is new and modern, I am its first owner. I do not do much wear and tear but do plan on upgrades.The upgrades will obviously cost money, and most people don't factor that into what they perceive as their gain when they sell the house. If you sell your house at a profit of $200K you really need to factor in the $100K you spend on maintenance or upgrades and the X amount of taxes you paid or you are just fooling yourself. There are pros and cons to house buying and I feel, at this point, its a pro, but time will tell...… I can always go back to apartment living. You never truly own something and houses are no different, you just own it for now and even then someone can always take it away. It all depends on how much you are willing to fight for it.....which most people won't.

[@Drumbeat52]

Plus add in your labor to do anything to your house! Take that over 30 years! Mow yard, paint, plant flowers, etc... Central air/heat needs replaced, $8200.00 upfront! Roof starting to leak, etc... If everything is expensed relating to ownership, then most people have a losing investment. I will gladly pay the landlord who will free up my time to pursue profitable investments with my money. Owned a home once and will never again! Most people need a home for the space to store their UN-needed collectibles and massive amounts of useless plastic objects. Dust daily and keep track of your hourly labor wage of ownership! lol I'll be on the golf course!

[@comfycapitalist6075]

Good to see people applying logic to real estate!

[@TheDrJohnnyO]

Interesting viewpoint- not gonna give up my house, though- an investment that I can live in at the same time~!

[@ceciliaruns72]

3000k + monthly, high taxes, HOA fees, appliance replacement, tornado repair, general repairs, upgrades, broken A/C....the story continues! I realize I'm getting ripped off monthly....but I moved over 20 times in my life and desired stability for my family, have 4 kids that need a place to call home, they love their rooms and neighborhood friends. If they need a place to stay when they are older, they are always welcome to come home! Now that's priceless! Plus I do not like any landlord I've ever had!! 😂

[@AndreiJikh]

As long as you know why you've bought it, there's nothing wrong with home ownership. Not EVERYTHING in life has to be optimized to increase dollar value. Glad you prioritized your happiness instead, nothing wrong with that! :)

[@mike.hatz.]

I 100% agree that your house is a huge waste of money (as an investment). Ideally, you should treat it as such. - Live in the most modest place you can be happy and invest the rest. - View it as where you are safe, happy and escape from the rest of the world. Your "castle" might be of significant emotional value. I 100% concede that has value. Just not $$$ value. :-) - It is better than your car, but worse than the market - d1unatz8mcf3a5.cloudfront.net/uploads/Housing-vs-Stock-Market-Growth-700x510.jpg - And the specter of rent... "Okay smart ass. Why would I pay $1,500 a month to rent a house when I could just own the stupid thing for $1,800 a month?" And there is the rub.If you have to call your house an investment, we should probably all agree to call it a "bad" investment. LOL But hey... I have been a home owner for 27 years. None of my houses have ever beaten the market. Not even close. Even leaving Southern CA close to the peak of the housing craziness.

[@chickendude4299]

The only cost is the down payment which could have been otherwise invested. So the 100k down payment on a 400k house could be generating 500$ a month(6% reit) in dividends and either way you'd have to pay for the mortgage/rent. When you rent, you are just paying somebody's' mortgage.

[@Kibatsume1]

Well as far as things like a points replacements you can get a home warranty for $25 a month it covers your washer, dryer, AC. actually does save you quite a bit of money you'd be surprised.

[@JustinFromMD]

It’s not $3000. After tax benefits and gained equity it’s far less. All you Kiyosaki “iT iSnT cAsH fLoWiNg” pinheads need to learn basic double-entry accounting and terminology.

[@alextotherescue]

I will say this... I do not regret purchasing my condo at all. I've gained $150k in Appreciation within just 4 years (crazy values in Cambridge, MA) and the fact that I could get serious money in rent income if I ever decide to rent this condo out... makes it entirely worth it.

[@LawGiver]

It’s only a gain when you realize it as profit (sell it).

[@chickendude4299]

Calgary has appreciated like 40% in last year because of booming businesses. Its all about location, but if you have a poor location then the video is correct.

[@reidspencer]

@@chickendude4299 i live in calgary.. so which area are you talking about because all the houses are down by atleast 20%.. there are soo much supply and not much demand especially this year

[@chickendude4299]

@@reidspencer was watching a dan pena video, might have been a bit old haha. What brokerage do you use in Canada? I am from Saskatoon and I use Wealthsimple, but you get ripped off when buying us stocks(3% fee). I only have 10k in stocks and have 20 holdings(500$ EACH) they are: MO(US), 3M(US) ABBV(US), MX, KO, LB, SKWS(US), T(US), PPL, SU, TPR(US), MFC, EIF, GRT.UN, JNJ(US), ACO.X, WYNN(US), XDG, CL(US), CDZ(Canadian Dividend Aristocrats Index ETF). But it sucks losing 1.5% when buying and then 1.5% when I sell on us stocks. Is this typical when buying us stocks from your brokerage?

[@reidspencer]

@@chickendude4299 oh you're talking about stocks i thought you were talking about real estate. because the house prices here has went down since last year.

[@LegendOfTheOld]

Really funny is the irony, that houses are considered a "save investment" - whilst staying away from stocks and crypto - but it's just a speculation on the house market.

[@markjou9799]

Each has its pros and cons. For me I have been renting the past 20 years. I moved out when I was 18 and have been living in apartments ever since. I move on average every 3-5 years. The one thing that is a huge plus to apartment renting is maintenance. If I have a problem with something I just go online and fill out a maintenance request and 9 times out of 10 when I come home its already fixed. If I owned my own place I would have to worry about my own maintenance and be at home if I had to call a service tech. On the downside I am paying 1400 a month to rent a 1 bedroom(brand new) apartment but I am still able to max out my 401k every year and save 2k a month to put in a taxable trading account with Fidelity. If I was living paycheck to paycheck I would consider buying a home.

[@marktalksmoney1956]

I think you need a place to sleep for the rest of your life, it's good to own and control that.

[@rochester3]

he didnt say dont buy a place to live

[@KnockoutInvesting]

Rent. buy a rental property

[@AndreiJikh]

I have a place to sleep but I don't own it, and my landlord works for me when things are broken. Something to consider: IF you're renting the EXACT same house that you would have bought (very unlikely), AND you live there your whole life (ALSO unlikely), AND you didn't spend a ton of money fixing it up, working on the backyard, upgrading appliances, etc. (also unlikely), then you would come out ahead of renting. Renting usually allows us to scale back on those things and invest the surplus. Whereas buying usually has people reaching for something nicer (because it's their forever home). Just something to consider :)

[@exgamer07]

Andrei Jikh Renting also gives flexibility. If you are in a low cost area it’s also nice. You can contribute equal or more to investments than you are spending on rent in the first place.

[@joshmarks3954]

@@rochester3 He did say "home ownership" implying your home.

[@DamonLeeK]

Totally agree with this! Makes it sound a bit silly really!

[@NorthStarPNW]

Why buying a house is the worst investment you could possibly think of: Requires not just one deposit of money but many recurring payments and drains cash reserve. Illiquid - takes months of effort to buy and sell. Expensive to buy and to sell (unlike equities) - outdated! Very high transaction costs - like a 5% Realtor commission buying and again for selling. Extremely complicated to buy and to sell Charge for a real-estate license, and the transaction documents. Yields an extremely low return, generally no more than inflation (except in select booming cities). Leveraged (like margin trading in stock market), magnifies small returns but leverage goes both up and down. Mortgaged so requires interest on the loan (and people borrow against the investment - more interest). [And Adjustable Rate mortgages can go sky-high!] Unproductive - doesn’t produce products, ideas or services and doesn’t pay dividends. Complete opposite of diversified - it’s stuck in a specific location so has a very limited pool of buyers - or maybe none at all when you want/need to sell. Fate is tied to one specific neighborhood, risks devalue due to crime, industry, tax-crazy government, environmental disaster. Net worth is crushed if you lose job and income. Because it’s tied to one location, you’re tied to your employer and can never leave job or ask for raise. Expensive to own, requiring continual maintenance for damage by weather, fire, vandalism, pests (rodents and ants). Requires insurance but that specifically excludes ‘Acts of God’ (and earthquake coverage is extra) Taxed a ton by local AND state government, every year and the tax rate always goes up. It’s like share cropping, where the owner absorbs all costs of upkeep - but is subject to eminent domain and liens. Asset ownership leads to stress and divorce, but is impossible to divide.

[@gentlemenssmoke]

Intrist rates today it truly is the worst investment ever on top of the idea that you really not a home owner until you own meaning that mortgage i paid off. Payments stop the bank takes the home regardless.

[@ValueForInvestors]

Great video! Love the format & the arguments here. I’ve been thinking about home ownership a lot lately. But, it’s something I’ll have to continue researching to completely figure out. Hoping I can flesh out a video like this whenever I make up my mind. 👍🏼

[@DanielIles]

When you said "we are only half way there dude" I had no clue you could keep it going for another 3 minutes 😂

[@AndreiJikh]

little did you know.... 😅

[@DanielIles]

same on the second time around lol

[@rachellejohnson3779]

Thank you! Sometimes I need a reminder that I don’t need to keep up with the Jones’s to provide a happy life for my kids...

[@ResortGaming]

Really enjoyed this video! Very entertaining to watch I really appreciate the effort on the acting and stuff made it super interesting! Just more of a reason to just stay in an apartment

[@turkishballer8084]

I’ve always been ingrained by my mom to buy a home and I always questioned it given how I wasn’t even sure I wanted to live in that city to begin with. I was very young and had good credit but buying a home just wasn’t something I wanted to do. This video perhaps confirmed why buying a home isn’t always a ‘smart thing’ particularly being so young.

[@crisiturralde1966]

I wouldn't want to be 70 years old and still paying rent when I don't work anymore

[@tonybegg7324]

It is not so bad if your pensions cover living expenses and you have a bit over to buy crypto.

[@TiemposDePaz]

Well property taxes are a form of rent if you live in a high tax area. People forget about the expenses of maintaining a home (insurance/repairs/disasters). Many seniors here in the NY area will sell their homes and rent because it works out to be the same cost, but no unexpected maintenance costs.

[@vincentevans2700]

Taxes... utilities... can we go back to 1824? 🌲

[@BManStan1991]

Property tax. You never really own your home in the US. Government here is very greedy.

[@bluehusky4650]

what about if your old and making money from interest and dividen investing where you have guaranteed income? and if parts of your house break you dont have to fix it and if you want to move you can do it easily. a life of renting is freedom. as long as you have created an income in the background from other investments why boggle yourself down in one place just to have the title of "home owner" theres more to life than owning bricks, copper and concrete

[@lepermessiah2011]

Pitch Meetings: Finance Edition Buying a house is never super easy, always an inconvenience.

[@zerogadalla]

Horrible investments are TIGHT!

[@dannyhamler4912]

Upfront, informative and entertaining. Amazing combo!

[@alexjones4105]

Andrei, that's one of the best videos I've ever seen on youtube and I watch a ton!

[@PianoKeyzOfficial]

Fun fact: most new millionaires made their money in real estate!

[@AndreiJikh]

This is true 👍

[@Human927]

not true. Most old ones did. not the new ones.

[@jordanroberts7931]

By renting homes out as a landlord. If everyone who owned a house became wealthy, why are there so many home owners working?

[@8G00SE8]

In the UK as of 2018, and this applies in most countries, around 74% of renters are in work, only 64% of home owners are in work. Your ability to stop working forever increases when you own your own home without a mortgage.

[@gregwonders8904]

Crypto*

[@cotomaznaczyc]

I felt this way a decade ago when I bought a small condo apartment. I went with the cheapest option because I wanted to have the lowest living costs possible. Since then property prices have sky rocketed in Canada, and I really wish I had spent a little bit more and gotten a house instead (which had gone up in value much more than my condo). On the other hand I am so glad I have acquired some property and feel really bad for young people for whom buying a property with a single income is basically a dream.

[@moneymanfernando1594]

There are a lot of pros and cons about home ownership. No easy answer. Like you mention home ownership is very expensive, but renting is also expensive.

[@cna9708]

I was thinking about investing into a house, while everyone around said it's a no brainer good idea, but i wasn't convinced because nobody wanted/could explain to me why i would be better than enything else. Really liked the style of explenation here. Funny and easier to connect to it because its not too serious.

[@christianb.1431]

"I want to be the very best. Like no one ever was. To profit from them is my test, to invest them is my cause. I will travel across the land, searching far and wide. To teach investors to understand, the power that's inside. Dividends! Gotta invest them all! I know it's my destiny Oh, Andrei you're my best friend In a market we must invest....." this is the best comment ive ever seen :)

[@UnorthodoxMasterOfGames]

Christian B. Underrated comment right here. But did you catch Mewtwo in Cerulean Cave after beating the Elite 4?

[@AndreiJikh]

Definitely made my day, thank you! haha, if there's one way to win my heart, it's with Pokemon... and food

[@briandenning4478]

How about simply owning the house you live in? That seems like a reasonable investment to me.

[@80s_kid.]

You can't own it, even if you pay cash.. because the government makes you pay tax on it every year (even though you own it) and if you don't pay, they take the house off you, proving you don't really own it lol.

[@FiguringOutMoney]

Lol this is funny. Here is my perspective...My house is not a monetary investment. I could care less if it goes up or down. It's an investment for my family and our roots in our community (it's important to my wife, and she is more important than any other investment). We didn't overspend, mortgage is low, and doesn't take away from any of my other monetary investments (actually our mortgage is cheaper than a 2 bedroom apartment). I never wanted to buy a home, but sheesh it brings so much joy. You are right. It's an emotional transaction!

[@ltrain0012]

So...as a homeowner myself, I think what Andrei, Collins, and some of the commenters are saying is this: a home is probably the best piece of merchandise you'll ever own, but not necessarily the best investment. An asset is something that makes money for you, whether you're working or not, and a liability is something that costs money whether you're working or not (to quote Robert Kiyosaki). It's not that buying a home is bad, but you should see a home as a piece of merchandise/liability, like a car, and not an investment in an asset, because it has recurring costs and does not generate cash flow (unless you rent it out, or you're someone who sells properties for income). When you buy merchandise, you buy it to use it, not to make money (again, unless you're selling/renting it out); but, you invest in an asset to make money. So, when you talk about buying a home, the comparison should only be between buying vs. renting a home (liability vs. liability), and not between buying a home vs. investing in proper assets like stocks, bonds, etc. (liability vs. asset), because a house has relatively high costs and low liquidity compared to those other assets, as Andrei pointed out, which make it a bad investment, but not a bad piece of merchandise.

[@AndreiJikh]

This! Absolutely!

[@mmmhamproductions]

I am a home owner. My house has gone up in value, and it shouldn’t be too hard to sell. All is well. However, I still love this video. It’s necessary that people also see the possible downside of home ownership.

[@tuckersaspy]

sure buying a house to just sit there as an investment (that you dont live in or rent out) is terrible, but you still need a place to live. even if you dont come out even, the costs of ownership are usually much less than renting. if you rent you are still paying for all those costs plus a profit margin to a landlord. id rather pay 1500/month (not even to mention 300 of that going into my own equity) than pay 1800/month for the same property managed by someone else in rent to avoid a "bad investment". even with tax increases, it never comes close to how much rent goes up. if you have 30 year mortgage you have much better price security. i have had to move every year because rent prices go up anywhere from 5-40% every year, which doesnt happen if you own. just need down payment and you have consistent, lower payments locked in. all that said though, i do agree the house you live in is not an investment. if you stretch for the best and biggest house you can afford thinking it will go up and make you rich, youre doing it wrong and could drown in upkeep and maintenance. it would be better to buy one smaller cheaper property, or buy multiple and rent out the others.

[@caroleehubbard8380]

tuckersaspy Dude, you just described exactly what I did! I bought a duplex, lived in the front unit, rented the back unit. I lived for free, back unit paid all my expenses and mortgage. I tripled up on the mortgage this way, paid it off in full (very fast, under 4 years) and now live rent free + income from back unit! This worked so well, that during the housing crash, I bought up (over 10 years) 3 more houses (Foreclosures) have been renting them out and all but one is paid in full at this point. All while my day job pays barely $50,000 a year! I'm now making as much in rental income as my 40 hour a week job.

[@tuckersaspy]

@@caroleehubbard8380 nice! Hope to get there eventually myself

[@ascheme9705]

@@caroleehubbard8380 That's what I want to do honestly. You got any tips to share about the whole process?

[@GxGNoir]

tuckersaspy the house you live in is an investment depending on how you do it. If you do it the way people like Meet Kevin teach, I can’t see how it’s anything but an investment

[@RB-hl3ux]

Great video. You make good points. For the average person buying a house is expensive & very stressful.

[@JohnExploresEverything]

As a real estate appraiser, this video is amazing.

[@leomoncivais9172]

Owning a home sucks when you live outside your means. When you live well within your means it's a great investment. I love the debate that was brought to the table. People surely don't see all the flaws with owning a home.

[@valueStocks]

Great video. I find it hard to believe that nowadays with our wealth of information and number crunching ability, that we still hear things like “but you are paying your landlords mortgage.” The situation can be relatively simple or complex, but the calculations are always plausible. Say for argument you have $100,000 and want to either buy a home or rent. Say for argument sake you are relatively young and single. A) You invest that 100K into a home (say worth 400K) and your mortgage (at 3.5%) is roughly $1500. But wait, you have property tax (easily 3K annually), utilities, home insurance, realtor fees, home inspection fees, lawyer fees, general militance, anything and everything including the kitchen sink and lawn mower purchases. This can easily clear the $2000/month ballpark, but for argument sake let's make it 2K a month. In 25 years that home will be roughly $837,000 if it appreciates at the average 3% a year (check your local area for long term growth rates). So most people would say not bad right? Why pay your landlord’s mortgage, instead of throwing that money away you now have something worth over 830k! Well importunely, that is where 99% of people stop. B) You invest that 100K into an ETF (or index fund) that tracks a broad market index such as the S&P 500 or DOW. You throw away (hehe) $1000/month in rent (depending on your local renal rates or personal situation) and invest that other $1000 a month you would have needed to pay for property taxes, utilities etc. mentioned above into the same ETF. As we all know, these indexes average around 10% a year on a long-term basis. That 100K plus the $1000/month investment will grow into 2.26 MILLION. It should go without saying that this is all situation dependent. If you have a family and cannot rent for less that $2000 a month; therefore, cannot invest obviously its most likely better to buy. And if for some reason you expect housing to appreciate at faster rates that historical averages (I can’t see any city in North America where this will be the case nowadays) then again you need to adjust your calculations. The idea is to use your head. Don’t do what the crowd does. Why? Because then you become just like everyone else. For now, I feel great about throwing my money away on rent. 😃 😀

[@blackblaze1996]

I dont think you are wrong but a young single person buying a 400k house but renting a house for 1k a month? This doesnt sound like the same house at all.

[@valueStocks]

@@blackblaze1996 You wont rent a house for 1K. I am talking about renting a 1 or 2 bedroom suite. Depending on your needs and the prices in your area.

[@valueStocks]

@@blackblaze1996 If you would like you could do rent for $500/ month and a 200K home. The rates of appreciation are the same.

[@derekray7144]

This made me subscribe. I been saying most of the same things for years. The house you live in is not an investment because of the costs and time it demands; however, owning other houses that pay you rent is a decent investment.

[@missmermaid6249]

I love the perspective!! Its all true. No one factors that stuff into the end result. It’s something I’ve thought about a lot since I want to sell. 👍

[@edumation3041]

It is pretty one sided. There is a good chance to lose or gain money. It depends on lot of different parameters. At the end of the day, it is up to the individual on what he/she wants.

[@oteiri78]

Thank you for posting this! I have found myself from time to time explaining my girlfriend that "Nah.. I'm not going to buy.. I rather pay rent and invest on stocks. That's how I could someday retire and maybe travel into some other place to stay for a year or two.. and so on.. To be free. Maybe write some poetry."

[@Blackdiamond929_]

Sounds like a plan

[@flyhirt8103]

Great share Andrei! I love how you pictured the BIG downside - the emotional quotient. I live on rent 800$ single bedroom 850 SqFt, Minimalist design, siphon few cash in equity and manage my Job. CASH IS KING!

[@Autonerf]

I bought a foreclosed house for $18,500 and you are right about how complicated it is to buy even with cash, and I can't even move there until I fix everything to pass the city occupancy inspection. Another drawback of selling a house is a loan company will make you get it inspected and fix all the things wrong with it unless the buyer pays cash and buys it as is. The good things about owning are not having a landlord or rent payment.

[@jmoney9494]

I loved the 'rent isnt just throwing away money' line because we need a place to live but he doesn't factor that into a mortgage

[@Shawnkelly7]

And the fact that rents go up every year. You may not have to perform the maintenance but you are certainly paying for it.

[@roopamrajvanshi675]

@@Shawnkelly7 so does your property tax (in general)

[@CFoster223]

@@Shawnkelly7or that u have no flexibility and ur tying yourself to one location for 30 years in which u won't stay u will want to move in 7-11 years and be forced to pay all the fees all over again and tie yourself into another 30 year prison sentence in which most likely u never own your home. Every chance u gain a little equity and sell the house and buy something worth more money living outside your means and stay in vicious cycle

[@allegory3826]

My mortgage is less than rent would be.

[@MrCubansurfer]

Allegory exactly! I have a 2 yo house paying 20% less than the rental equivalent. PLUS I can write off the interest!

[@bradgraff551]

Exactly so is mine! We stand to make a over a years salary upon selling. His whole point is about how a home isn't liquid capital, and you have a lien holder on a property. Taxes!! you pay taxes on everything, even investing isn't tax free. Buying a home is a wonderful investment when educated in the right direction. Which is the same for all the stocks, and investments this guy talks about. I've liked his videos, but this video clearly shows he's a KZbinr that cant handle a mortgage and yard work. Show me a video of you mowing your "parents" yard, changing your own oil in your vehicle, maybe all subscribe.

[@itsatrap7215]

Same here. My mortgage is $561 a month for a 1,500 SQ FT townhouse. I bought near bottom of housing crash. Rent for a 1 bedroom luxury apartment(750 sq ft) is $1,300 a month within a few miles from my place right now. Rent will always slowly go up as long as there isn't another housing crash. My mortgage will stay the same while everyone else pays more and more.

[@Chris-ew9mh]

In some areas the taxes are almost as much as the mortgage payments which places you much closer to the total cost of renting. Add in maintenance costs, insurance, and other surprise events and it's not always the best choice for someone if they aren't in it for the long haul of building equity in what is often called a forced savings plan. Don't get me wrong, owning a house certainly has it's upsides but it's not always an automatic win.

[@caroleehubbard8380]

Chris Wirth True, I hear NJ has some of the highest taxes in the country. I would never buy there! But, for me and most of the country buying makes way more sense. I live rent / mortgage free here in Tucson, AZ. While buying a house is similar to mentioned above ($550 to $700 a month) rentals for the same type of place is ($1000 to $1400 per month). Plus, you eventually live free (minus taxes) which is $1200 a year in my case. Is there maintenance at times, yes! But, when you live without rent / mortgage you have a nice little savings for such potential emergencies. I had to recently replace a water heater, ok $900 ..no big deal, maybe a new roof in 30 years? Ok $10,000 in then budget over 25 or 30 years? Easy enough! Here's a fun little tidbit too. I bought my house in 1995 (cute little 1940's Spanish bungalow) for $65,000. It's now worth $275,000. So, nice profit, while living for free to boot! Win, win, win!

[@JeffersonRah]

Very creative...I've been watching your videos the past week and have learned a lot.

[@thijs7153]

This is really true

[@misici]

I followed advice that was actually credible. I bought a house as an investment and spent years aggressively paying down the mortgage. Now I have it rented out and the rent they pay goes straight into the account I use to buy shares. Not such a bad investment after all

[@mlcamc77]

Buying a house was one of the best investments my husband & I did. What will happen will happen. Thinking like you made me wait years for buying a house. We did it & we are happy!

[@mayankmittal8107]

home ownership is not bad. its an awesome thing to have in one's life. what he is saying is that it is a bad investment...

[@krisxaero]

still happy right now?

[@od4407]

Buying a home is not an investment. Investments put money into your pocket not take from it. I wish people would understand this. Not saying you shouldn’t buy a home, but it is not an investment. Your post should say best “decision” you ever made

[@od4407]

David Boeger Could you tell me what other investments you own?

[@5000MikeMaster]

“What will happen will happen” yeah great investment. Sounds like an emotional decision. Have fun working until your old ;)

[@km6731]

so true. thanks for sharing.

[@recowabunga7200]

best video of the year

[@violeteyes5255]

The worst investment a man in the U.S. could ever make is to get married.

[@edelweiss5411]

I look at it in terms of how much it costs me to have a place to live that's safe, comfortable, etc., compared to renting. I have a 1000sqft home on 1/2 acre, with a $435/mo mortgage. In the 4yrs I've lived here, I've spent a total of approx. $1200 on repairs, and upgrades. An apartment in my area is $850+ for similar sq/ft, with no yard. I make $110,000/yr, and can easily afford extra on my mortgage every month. I get that it can be a terrible decision for many people, but for me it was the right decision.

[@yaykruser]

Edelweiss 110k / Year ?! are you a ceo or something?😳

[@user-hv8bo4ie2v]

Yay KRUSER you can make 100k a year waiting tables in a nice restaurant...don’t gotta be a ceo or a Doctor

[@yaykruser]

C How is that gonna happen? 10 bucks per hour even working 12 hours a day would be 120 a day times 365 would be 44k. If it was possible to make 100k I would do that all day. Even people with college degrees have a hard time getting 100k a year.

[@MrDrMeow]

Justifying like this is why people stay broke lol a better argument with be you just want to own a home aka the lifestyle argument Because when it comes to math you just aren’t correct

[@SinlowMusic]

Such a fantastic video.

[@thecynik]

Different perspective from what I've typically seen and heard. Thank you for this! I've been arguing the same that I'm not going to buy a home just because it's convenient especially if it's not a place that I plan on staying permanently, prior to starting my family and all. That would be a waste in my opinion. Also, it's clear that some people didn't watch the entire video to catch the ending where you mentioned a few advantages of owning a home.

[@TheRocketpony22]

I'm a home owner and given how much effort and saving sacrifice it took in a growing market there is no way I'd give it up. I intend to have it paid off in 20 years as part of my goals for financial freedom. Plus if the economy starts to super suck again I'll rent out the 3rd bedroom to a friend or grad student at the University. That being said I really enjoyed the humor in your video and agree that owning a house is not for everyone, nor should it be considered an investment the way most people will say....because it's also a huge liability.

[@tdoggo7614]

He way oversimplified investing in the stock market. Buying a house is a no brainer. Unlike renting, you build equity and get to be the boss of your own domain. I’m a retired financial analyst and literally everything he said was wrong. Mortgage payments are always cheaper than renting within a few years of purchasing a house so his entire premise is based on a false assumption. Stick to the trapeze buddy.

[@elbry4]

@@tdoggo7614 That's not true. Many neighborhoods in certain areas are HOA's. The HOA is the boss; not you. Still can't do what you want or paint or remodel how you want. Real estate is about location is renting is oftentimes cheaper than owning depending upon locations. It's not a 1-size fits all equation.

[@NamaGVida]

Hey you! Future viewer! If you watch til the end, you’ll love the message of the video. 🤗

[@blisterroseblood2109]

Owning my house makes me want to cry when I do the math of what my investments would make without it...

[@Neo-Masculinity]

Great video. Homeownership is the dream of a bygone era. A revaluation - read crash correction - will come. When it does those with cash will be king and those owning homes will be crushed for the most part.

[@CodySteckRealEstateVideos]

You had some good points... and some not so good points... Let me show you how to house hack your own home (which I know you are basically already doing) and ACTUALLY make your house an investment and asset, instead of a liability 😀

[@bornagain5199]

I bought my home for $124k in 2010 and it’s valued at $265k. I’m 30 years old. Seems like mine was a good investment.

[@jackpalmer6253]

Nope. Factor the unrecoverable costs you dumped into it and you might find you broke even. Mortgage Interest, taxes, closing costs, maintenance, a higher insurance rate than you would pay if you rented, and did you do a renovation? Also, there's an opportunity cost in that your money would have appreciated 5.6% every year in the TSX S&P composite index after inflation but instead was tied up in your house. And after all that, houses are really expensive to sell

[@bornagain5199]

Jack Palmer that is a good point but I have to live somewhere and for a family of 5 to rent a place with a similar amount of space would be 2000 a month here. I am only paying 1200 a month for my Mortgage with escrow included. I am handy and my brother in laws are independent contractors which makes repairs substantially cheaper. I never plan on selling my home. I will pay it off in the next 5 years then start investing heavily. Paying off my home sooner will significantly reduce the interest payed on the mortgage.

[@tusharprasad2734]

The stock market went up 4x in last 10 years - your 124k would have become 500k with zero effort

[@bornagain5199]

Tushar Prasad yes but I didn’t have 124k I had about $3000 and a bunch of student loan debt

[@tusharprasad2734]

Born Again - you should check what dollar cost averaging means. You wouldn’t have even needed the 3k.

[@jonson856]

I live in Berlin Germany. My father owns 2 or 3 apartments, I own 2 (though those 2 used to be his, he gave them to me, not for free, but most of all so that I learn to take responsibility...). Most of the argument you mentioned, do no apply to us here in Berlin....for some very simple reasons: 1st the rent is set up in a way that it pays the mortage. 2nd It is Berlin, we have an extremely high demand for new housing. Every year loads and loads of people wanna move in, so fast that the contruction companies cant keep up. So what happens when the demand sky rockets? Prices sky rocket as well. So right now, the realesate you bought 10 years ago, is now worth 4x. And demand is so high, you will not want of buyers. I even noticed it in my own neighborhood. I myself live in a verey cheap flat, in the last few years loads of new living complexes were build in this area, and everybody pays almost exactly 4x more than I do for the same amount of space. 3rd The apartments are not meant to bring back loads of profit, they are meant for my fathers retirement. 4th this video made me subscribe to your channel xD

[@J91ravens]

Watched about 10 of your videos but didn't subscribe until this one, it is always a good thing to question the conventional

[@redraiderrider3289]

You touched on every SINGLE reason i bring up for not wanting to own a house. I never said property, just a house. It just doesn't make sense anymore. You never actually own it!

[@rickmanley767]

Owning a house without a mortgage is the definition of liberty. I paid off my forever house when I was 53. Having seen the market tank three times before I changed my long term strategy, created a plan and stuck to it.

[@caroleehubbard8380]

Genius ! The freedom of owning a paid off home is intoxicating !

[@marcwareham9351]

Paying off your mortgage in the U.K. is a bad idea. The money I could use to pay my mortgage off would save me £350/month. Invested I make £2,479.17/ month.

[@caroleehubbard8380]

Marc Wareham Whoa, that is a huge discrepancy ! Absolutely, renting in UK is a much better idea then. I can agree, where you live would dictate your best financial move. Where I live I got in on the ground floor of the real estate boom...I haven't paid higher than $90,000 for any of my houses, much less even for some (as low as $50,000) ...started buying during the housing crash (Foreclosures) ... They all rent for $1000.00 or more per month....huge return on my investment, not to mention each are worth between $180,000 to $250,000 in value now as well. All but one paid in full.

[@randomuserame]

You don't own it if you're paying recurring taxes on it. You don't pay annual "property" taxes on clothes or food or even a car (sales tax is 1-time and not the same). You need to find and secure your patent/allodial title (the true title, not the deed, which is a color of title) which can be either simply requested at your local government offices (if they're feeling particularly cooperative), or adversely possess ownership of the land itself after the time requirement to do so has been met. You MAY lose access to some things like police response and monitoring, mail service, and possibly some utilities. BUT there's no law against negotiating your own contracts to secure/retain them. Once you have the land title you are the true owner of the land itself, extending down to the core of the earth and upwards infinitely into the stars. It is not subject to taxes (because the government isn't the true owner) and it isn't subject to eminent domain/expropriation (property is an inealienable right, but only things that are PROPERTY are protected.), and any planes have to fly around it since your property line will not be considered US controlled Airspace. It will be private airspace. There's more stuff to it, but that's the water where I have led you to drink. It's up to you to take a sip.

[@rickmanley767]

Ben W I have to pay recurring taxes on my paid off vehicles as well. I guess in your book, I don’t own them as well

[@walterflo7463]

it's a great narrative and the presentation makes sense when it's viewed in that angle. Any investment is always going to be this holy union between the investor and the price. Everyone does not share the same investment passion

[@BB-ts3qx]

Your videos are super incredible! I’ve started watching you about a month ago, and you really put a lot of work into your videos and we really appreciate that, thank you and you’re freaken awesome!!

[@Psyberify]

Oh man, what a great investment. Surely I can pick it up and move it to take advantage of geo arbitrage right?

[@AndreiJikh]

LOL, of course! Take it anywhere you want! Oh wait, we're not talking about tiny houses are we?

[@SlavElenkov]

I've been watching without subscribing. This video made me subscribe. I feel the exact same way about buying a house. I won't do it unless it's a small fraction of my net worth and I can afford it.

[@AndreiJikh]

Thanks Slav! This video did it? It’s my worst performing one so far 😂

[@TheDRam3]

You'll never do it. Prove me wrong. Lol

[@SlavElenkov]

@@AndreiJikh Niche audience, Andrei. Niche audience. You put alot of effort in your videos, and I appreciate that. I also appreciate your clear head and rational thought when it comes to investments. Hope the vid picks up for you. It was well made (even with the ad overload).

[@SlavElenkov]

@@TheDRam3 >< haha. I will one day. It just has to make financial sense!

[@AndreiJikh]

lol, thank you! Ad overload? PSH...man's gotta eat lol

[@andersbrixserup7718]

This is a brilliant way of explaining the downsides of property purchasing.

[@stackedjava2347]

100% agree. 30 years of home ownership. On my second house in the Toronto suburbs. Both money pits. In Canada, Ontario we have something called Land Transfer Tax, and lawyer's fees as well as real estate commissions. If I invested instead of bought a house, I could be living rent free from the dividends of my house purchase(s) + maintenance + taxes. I'm officially a new subscriber, too funny. Good work.

[@jasonasdecker]

You are missing a lot of positives in home ownership (yes, as an investment it is a terrible investment) but... The old saw that birds of a feather flock together hold true here as well. 1) Home owners tend to have more savings than renters. 2) Home owners tend to be better educated than renters 3) It would be the dumbest landlord on earth that didn't include property tax, insurance, and maintenance in the rent cost. 4) Home owners tend to have more retirement savings than renters. 5) A mortgage is calculated on the value at the time of initial sale, rent is calculated on the market rate at the current time. Therefore you have the same payment over time buying verse an increasing payment over time renting. In addition the rent is never paid off and a mortgage can be, especially is you don't take out equity loans (something that is your personal decision, as a renter that is NOT your choice.) 6) Home owners are more likely to be small business owners than renters. So the question is which group do you want to be in and which behavior do you wish to simulate?

[@elbowstrike]

#5 especially. It costs at least $1500/month to rent the kind of property I live in. My total mortgage and property taxes are only $1200/month because my wife bought it over ten years ago when properties were cheaper. Ten years from now our payment will still be $1200/month while rent could be $1800 or $2500/month. While somebody else is paying those high rates to live in the house I live in, I can be investing the $600-$1300/month difference while enjoying exactly the same lifestyle. $1200/month times 10 years of payments is $144,000 and we have more equity in the home than that. In order to beat that by renting we would have to live like refugees splitting a $400/month bedroom in a rooming house (probably with crazy people, drug addicts, and recently released criminals) and investing the remaining $800 every month for 10 years straight (to get $146,356). Instead we have a house, yard, garden, and a two-car garage. A big problem with the video is that it doesn't account that no matter what you actually still have to live *somewhere* and it's definitely going to cost *something*.

[@AdamBeyond]

Average duration of home ownership is less than 7 years. If you buy a house and sell it in order to upgrade or change locations after 7 years you bare the increased market cost via your new mortgage and your monthly payments go up just like everyone who pays rent so this is a moot point. Almost no one actually pays off their mortgage over 30 years. Anyone who paid off their mortgage likely did because they paid it down aggressively

[@nathanprescott1504]

Most of your points are incorrect. When studies compare home owners vs renters they compare it across economic statuses. i.e they compare professionals to the lowest run on the economic ladder. When you compare two people both making say 150K a year with one renting and the other owning a home all your points evaporate.

[@jasonasdecker]

@@nathanprescott1504 Are you also going to argue that this point is incorrect? 3) It would be the dumbest landlord on earth that didn't include property tax, insurance, and maintenance in the rent cost. Or this point? 5) A mortgage is calculated on the value at the time of initial sale, rent is calculated on the market rate at the current time.

[@bubbagambino7956]

Good luck with that lol

[@sagarlamba7416]

Disagree for a bunch of reasons. For those reasons, I will gently tap the like button rather than smashing it. It is an interesting argument, but I feel it’s flawed and way oversimplified. Way too simplified.

[@huyisthebest]

Ric not true. Parents are stuck with property tax and if the city decides to build something it goes up.

[@AndreiJikh]

It's one of those things that's difficult to speak "objectively" on because there's just too many factors to consider. The goal was just to get people to think more critically but this video isa LOT more balanced than what the title suggests (I go into it at the end on why I would STILL be a home owner at some point)

[@jesusbarcena5735]

Lol

[@TheLukaszpg]

@@AndreiJikh and it's very emotional. No one wants to be told that spending $600k was a waste 🤭

[@1hunterdale]

@@rick03168 haha you dont know you are paying rent he city will kick you out

[@MS-pw6jx]

Yeah idk, the lack of liquidity and sheer headache that real-estate can present turned me off entirely in my early twenties. Really thankful for that as well.

[@OceanusPictures]

This is so true... in a theatrical way. But still true.

[@stevenson46323]

What do you think about buying a four unit building and renting out the other three, while you live in one of them.

[@d-rocwesrick1264]

I realized that buying a house was a horrible investment a few years in, but damn, this video really helps drive that point home. I constantly think about how much my down payment, monthly payments and money for repairs would be worth right now in the stock market. I've also spent hundreds of hours doing work on the house on top of that. I know now that houses are for people with kids and dogs, not single guys with cats. And 5 years in, even with a good market, I would just get the money I put in back after all the insane selling fees, plus a tiny profit. And if you count all my labor at minimum wage, I'd probably just break even. And that's assuming I could get what I think I could. Definitely a huge scam for most people.

[@nicodenunzio2240]

I freaking love this video

[@truthseeker4807]

Very entertaining and very good and true I own my home , well still paying on it !! But very good video!!

[@micaonyx5301]

As a landlord I totally agree with you. As someone who just paid $350,000 for a new house ( considered quite expensive for my area) not so much. But then I just sold my old house for $330,000 and received a 300,000 cbeck after expenses so I have no mortgages. I love my house its so peaceful and serene and makes me happy so zero regrets. Money is good but living in a area that's peaceful and no pain in the ass neighbors near by priceless. Even better no landlord like myself telling me what I can and can't do to the house.

[@jeffreypowell3702]

You’re right, renting isn’t throwing your money away. It’s giving your money to the landlord, who OWNS your home.

[@4034miguel]

Exactly. When you are paying rent, you are paying your landloard's mortgage+taxes+repairs/improvements (plus a little extra money for his pocket). As at now, I am paying for my modest but spacious home, the same amount (mortgage+taxes), that I was paying 15 years ago to my landlord for renting a small two-room apartment, and it allows me to have access to low cost loans that I use for other investments.

[@TheTCOLL]

When you are paying a mortgage, you are paying your banks shareholders..and the city workers, and the insurance agents, and the utility company stakeholders...

[@4034miguel]

@@TheTCOLLwhen you pay a rent, you do the same but for your landlord. He account all costs in the rent he will ask. Do you think he will settle for an amount less than all the cost of his property? He does not rent at cost or at lost. He rent to have a positive income.

[@TheTCOLL]

Miguel Toro looks like someone has never looked at a mortgage schedule. Even on an average home price of 400k you are looking at over 1500 a month mortgage payment. Most of this interest front loaded. Take into account property tax, utilities(which may have doubled due to the renter), repairs, realtor fees and on and on you are easily over 2000 a month. Where I live a single person renting is less than half that.

[@4034miguel]

@@TheTCOLL Exactly. Where you live. In my case, you can see what was my case in my previous post. Additionally, someone is starting not to be very civil, implying ignorance.

[@nationalchampions]

😆 I agree 100%.

[@jeffreystoesser6878]

Interesting, there are many factors to take into account on each persons individual basis.... however the stock market can also be a far more volatile investment with zero control. There are potential risks in any investment.

[@NosMusica]

Well, you can sell off your stocks but not your house. That is his point. It makes a lot of sense.

[@zookiatookya320]

You have a point, and I can appreciate your reasons. Personally, I think the difference between owning property is that you have a tangible asset that you can move into should you need it. Stocks are harder to hold physically, and even then, they only have a monetary value, no more no less. I believe that both types of investment is the best option, because well... you can have both. At the end of the day, it comes down to the person.

[@codebloke2200]

Great points performed in a comedic fashion. I've been a property owner for 15 years, and I tell my younger colleagues to not worry about buying unless they plan to stay or rent it out for at least 7 years. One advantage is that if you do a fixed mortgage then the mortgage debt should become less of a cost burden against your income over time. Rental increases are largely unkonwn and potentially substantial

[@AndreiJikh]

Very good point!

[@jasond126]

I have watch many personal finance youtuber and your Channel is the most informative and relatable and NO SALE PITCH. Keep up the good work!

[@AndreiJikh]

Thanks Jason!

[@cherylcampbell7495]

I’m 70 and have owned a home for 20 plus years. I have a friend that rented for the same years. She’s 80 no paid off home rents and so in debt with medical, charge card bills. And she still has to work. Family is not going to bail you out always. Don’t depend on anybody but you. Buy a townhouse with a jacuzzi 💕💕🇺🇸

[@ricovelas]

Cheryl - was there any particular reason you waited the amount of time you did before deciding to buy?

[@McFanick]

Get em Cheryl

[@Chrissiela]

@@ricovelas I took her to mean her house has been paid off for 20 years now. I could be wrong, though.

[@NatashaRaisorGlam]

cheryl campbell OMG I put an offer in on a TownHouse with a jacuzzi 😂😂😂

[@Layodamus]

Ok boomer