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Answer joeraver

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Never spend more than a third of your income on habitat (rent/mortgage, property tax, utility bills, furniture, etc...)

As for the shower, thats why you clean it. Heat and moisture are a breading ground for bacteria and mold. Regular cleaning prevents mold and mildew build up, it's common sense. There are antibiotics for curing foot fungus. If you have a clean house you shouldn't really have to worry about it. Most people pick it up in hospitals.

Buying a house does not mean bankruptcy. Just don't live outside your means. That's why mortgages were invented. Very few people buy a home outright.
 
Maaaaan.

Get a house big enough for you and your family if you can afford to get a house in the first place. people got 2 kids and a dog and you see em livin in these big ass mansions with like 13 rooms.

you can make alot of money hustlin with real estate, snap up the foreclosures and shit, and yea a house is a good investment.

but not one of them state of the art brand new houses cuz just like buyin a brand new car, as soon as that year switches over ffrom 2005 to 2006, the value drops like hell.

to me coppin a mansion and fillin it up with expensive ass material goods aint a good way to put your money down at all. shit at least if you got a regular 2 or 3 bedroom you can afford spend the loot on watches and jewelry or some shit at least it had immediate, never changing value.

some of yall might laugh at me for that with the oh my god how could you think thats more valuable than a house bla bla bla but you know what, when you lose your job and youre out on ya ass and you got a huge ass morgage to pay so the house aint even really yours, what can you take to the pawn shop or jewelry shop and get some big quick money from. sure as hell not a house.

i aint saying invest all your money in bling cuz thats flat out stupid. but for real havin one of those huge houses is a fuckin luxury and unless you really really got ya money straight, that aint too wise either.

Joe raver tho, just remember, the people youre talkin about, that aint the norm aight. thats the upper class. and they do all types of crazy shit with their money that dont make sense, so who knows.
 
A new house does NOT depreciate drastically when the year changes, selling a used car and a used house are two very different situtations. My house is over 17 years old and is worth more now than it was when we bought it as a brand new home. As long as more people want to move into your area you can expect to make a profit on the sale of your house. My area is relatively new, they started about 18 or 19 years ago and are still develping, property around here goes for between 250 and 350k.

If you are looking for a good investment a diversified portfolio is the way to go. NEVER put all your money into one asset or one type of asset. While real estate is a good idea it's always good to have some money invested in precious metals. Gold has increased steadily in value over the last year or so. Gold can be liquidated easily with out much paperwork and can be traded, the best of both worlds, beats pawning stuff or having to default on a loan. A strong mutual fund is also a viable option coupled with a few sound slow growth stocks. A stable rate of return that beats inflation by 5 to 10 percent is much better than volatility, you may make a few grand but if the bottom falls out of 1 or 2 of the stocks you are screwed.

Art can be a good investment but the market fluctuates drastically and being savvy is the key.

As with any form of investment research is key, keep in mind when examining a prospectus that past success is not a reliable indicator of future results.
 
Real Estate is an appreciating asset for the most part.. At least here in the US. It has been since the great depressing since we have experienced a period of decline in home values.. Some parts of the country are better than others but you should see between 3 and 5% appreciation on a home per year.. Some areas in florida, arizona and california are seeing 40-50% appreciation right now..

This is a part of the reason why it is so easy to get a home loan nowadays.. With no money down even... A lender knows that even if they foreclose a few years down the road, they will get their money back because the home is worth more than you owe..

Homes dont cause people to go bankrupt, peoples spending habits cause people to go bankrupt.. Dont spend what you can afford to pay back..
 
well hmmmm i see what your saying, but u can buy a huge house, u can then just sale it if things dont work out, just dont rent shit out like big screens, then your safe.
 
It all depends on your definition of huge. You may be locked in on mortgage payments even if you sell the house (paying interest on outstanding capital you could pay back now, but aren't allowed to). Don't forget about property tax, here we pay about 6k a year. Heating and cooling costs increase with square footage as well.

Why do you feel you need a huge house? You may have to pay a real estate agent 5-7% when you sell it, that will come out of pocket. Plus I don't know if there are special fees on transfer of ownership and other red tape.

Bottom line, if you don't need a huge house don't buy one. There's no reason to live beyond your means. If you can make the move comfortably and still allow enough financial flexibility then by all means go for it. You may want to consult with a financial analyst/consultant to see where you stand in terms of spending and income.
 
i dont, but my credit is fucked up b/c i moved into an apt, my girl and i couldn't even last our 6 month lease, so wha tis the smartest move in life? i mean, i had a job, then lost it, do u take risks? what do u do?
 
First off how did you lose your job, were you fired (with cause or without cause) or did you quit or were you laid off? When it comes to financial risks only risk what you are willing to lose. What field are you in? How are your prospects? You should be able to get a decent appartment with a relatively decent job, if not move in with a friend. I would recommend getting a modest apartment for now, split it with a friend if you can't cover the cost alone. If you really want a house then save some money for a down payment and rebuild your credit in the mean time. Have you filed for bankruptcy in the past? This alone will severly limit your ability to secure a loan.

With steady income there really is no reason not to be able to afford a decent pad. Just make a budget and stick to it. Reckless spending (combined with credit card debt) is the quickest way into the poor house.
 
wizekrak said:
Just make a budget and stick to it. Reckless spending (combined with credit card debt) is the quickest way into the poor house.
Click to expand...

if one was in CC debt, once the debt has finally been payed off, and you have a steady income..any idea on how long it would take to finally start "looking good" towards "loners" etc?
 
yea but what if my car goes out? blows a gasket? then what? thats 800 bucks. what if my girl leaves me? then im on my lease alone, or what if i lose my job, do i work two jo bs? its risky!!!!!!!!
 
What if?? If I asked 'what if?' as much as you I wouldn't get out of bed... but then I might get bedsores... and what if I needed to poop...

Seriously though... it being SO and all I'll stop having a go.
 
highway driving

is highway driving or regular road driving better for your car? i have a 1990 honda accord, would it be better to do highway or regular?
 
Now...in fairness, I am aware that some cars are fucked up and can't handle going real fast, but I've always been told highway driving is better for your car, but my car is older and already had some problems.
 
yeah but these aren't just what ifs. i mean what if these things really happened?
 
Shit happens, be prepared when it does.

If car breaks down then take the bus or bike to work untill you can save enough money to fix it. Maybe you don't make enough money to afford a car and the upkeep it entails. If you are worried about your girlfriend leaving then maybe she's not the best person to move in with. You should be able to afford an appartment on your own if you have full time work. Just curious but how much do you make a year? The only reason you should worry about losing your job is if you are laid off. If you have a strong work ethic and good references then you should be ok.

As far as getting out of credit card debt and rebuilding credit, I have no idea. Never been in debt myself.
 
DexterMeth said:
if one was in CC debt, once the debt has finally been payed off, and you have a steady income..any idea on how long it would take to finally start "looking good" towards "loners" etc?
Click to expand...

Depends on if you were behind on the credit card debt.. Or if you just ran up a bunch and paid if off... If you were behind and have now paid it off, you will need at least 12 months of clean credit (no collections or late payments) to get a decent mortgage.. If you have no more debt on your credit bureau, this is fine too.. Just get 12 months out from any lates and you can get an FHA loan with good rates..

Im assuming you have a steady job with decent income however..
 
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