Is it normal that i think buying property is unwise?

48% Normal
4 Comments

Unless you are extremely rich, buying property usually involves getting a loan. You have to pay back loans. The only way to do that is to either do so slowly over a very long period of time, or to sell the property. Given that you cannot predictably sell a house whenever you choose (especially in today's economy), buying property is potentially like giving yourself a prison sentence. If you wanted or had to move, you might not be able to.

Voting Results
48% Normal
Based on 25 votes (12 yes)
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Comments ( 4 )
  • coolio75650932
    11 years ago

    and you also must pay taxes for your newly baught land

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  • Cuntsiclestick
    11 years ago

    I own a home and it's the best thing I've done. No angry landlords, no roaches or bedbugs, no noisy tenants living downstairs with their noisy kids, no mold, and no nosey neighbors. I'm paying my mortgage and not someone else's. If there's a problem, like plumbing or roofing, I can pay someone to fix it right away instead of waiting months for my landlord to fix it.

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  • NeuroNeptunian
    11 years ago

    If you don't plan on being in an area for very long, then buying property is unwise because there is no guarantee for the market, it's all based upon speculation.

    However, owning your own property is a wise investment for some. It means that you are the one that has the final say over how the property is treated, no dealing with landlords or third parties. Land is the most valuable investment out there because no matter what the condition of the land, it is still there and it can still be handles.

    A good developer can mean the difference between land turning to shit or gold.

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    • VioletTrees
      11 years ago

      It's not necessarily unwise, even if you're not going to be there for long. For instance, my fiancé and I recently moved here, and it was a buyer's market. We found that if we wanted to rent a place near his work, we could easily have ended up spending more per month on rent than our mortgage payments are. Even if the value of our property decreases (which I think is unlikely, the way the housing market has been), we'd be better off than if we rented, because we'd get SOME money back from selling it.

      I realise that that's not a super typical case. I'm just pointing out that there are exceptions.

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