Why I Am Never Buying Another House Again

So at the age of 24 I bought my first house, and now I find myself having that house on the market and putting it up for sale. WHY?

Well in this video I’ll you exactly why I don’t recommend you buy a house, and when is the right time to buy a home.

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First off

This is not a market thing

Its not about I bought when the market was hot or I bought when the market was cold

That’s not what its about

When it comes to buying a home I think its best to base it on your personally finances

Buying a home on a 15 year mortgage

Where the cost is no more than 33% of your monthly income

And you buy that way, hot market or cold market wont matter, because you bought an affordable home

Here was my mistake ( or my rational mistake )

If you plan on living somewhere for 5 years, most likely buying a home makes sense ( if you run the rent vs buy calculator )

If you buy with that math in mind, its most likely going to be a good choice

So I did it wilth all those factors in mind and I still ended up on the other side

Here is the reason:

When you make decision you often don’t cosider that you are making them for a stranger

The person I was making that decision to buy that home for

Was someone that I didn’t know ( which was me being older, wiser and having different priorities )

So although at that time it was a good choice:

Me today, find myself a lot better off where I currently I’m

I would rather live close to family and friends, than live far from that, and have some financial benefit

If that makes sense

So when is it the best time to buy a home

I heard warren buffet say this a long time ago

And it was so wise, that I ignored it

But the answer was, you buy a home when you need a home

Me personally:

I don’t have a wife, or kids at this very moment

So I can afford to just rent for awhile and use that cash to make more money

And not just that but at this very moment, I’m not sure if I want to lock myself into living somewhere for another 5 years

So the most rational conclusion is this: that I decided

Keep the money I need to buy a home stable

Invest the rest

Rent while I figure things out

And buy when I need a home and not rush into anything

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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