Quote:
Originally Posted by jackmeister
Hey man I completely agree with most of the things you said because I do also think that its nearing the peak of the prices for the next while. But there are two reasons why I am moving out and I completely forgot to mention:
1) somewhat of a sticky situation at home. without going into further details, an argument resulted in me being asked to move out.
2) currently working in family business and will be taking over soon. unless some major shit happens, i should be able to pay off this house within the next 5 years.
Yea i dont really care about what a lot of other people think whether Im powered by dad and mom because i am and theres nothing to be ashamed about it. They're the failsafe if anything goes haywire.
Some people have told me to rent first and then figure it out later. But at the same time, when I look at places to rent I just can't justify paying that kind of money for someone else's mortgage.
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To be fair I was in a similar situation. I HAD to move out ASAP due to some serious family issues and made the choice of buying when in fact renting made more sense. I just don't want to see anyone get in too deep. I spend a lot of time in the US and I've witnessed some ugly situations where families are torn apart due to overloaded debt.
As for mom and dad helping out, some people will always hate it because they never had that opportunity. Jealousy is a huge thing with people.
I myself have never had any help from my parents HOWEVER knowing they are rich has allowed me to take on far more risk. For me, it worked out but would I have taken on that risk if I didn't have that background? Hard to say.