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House question

K

kalster

Diamond Member
Hey guys

I have a quick about buying a house, well essentially whether it makes sense to buy one or not.


Anyway I am single, I am on an work visa (h1). I have been working for about a year and half now, and am planning to marry and settle down soon. I live in San Diego, so I pay quite a lot for rent every month for a single bedroom (around 1100-1200) apt. I am wondering if it makes financial sense for me to buy a house right now (I can afford to put down around 30k in down payment, as i dont have any loans or debt to pay off and have some saving, I have good credit as well). The question is that does it make sense to buy a house if i plan to sell it in 4-5 years time. I dont intend to settle in the US and want to go back to India in 4-5 years. Given this does is it financially viable to buy a house (with the closing cost and other fees involved) or am I better off renting.


THanks 🙂
 
Hell, buy if you can. You'll make a killing when you sell... if you get out before the bubble bursts.

Edit: What a coincidence. Just took a call from friends of ours, who are relocating to Irvine. She said they may just rent, and wait till the bubble bursts, then snag a house for a much lower cost. Oh well, guess it's all just a crap shoot...
 
At the rate real esate has been going up, it's a great investment. Assuming it continues to go up.
My house has gone up 1.5 times the purchase price since 1996.
 
Yes

But don't you think San Diego, and Southern California is extermely over valued right now (and will only come down ?), anyway I guess its worth a shot, atleast I have a shot at making some money, with renting I am just throwing money with nothing to show for
 
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