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205 sats \ 3 replies \ @DarthCoin 7 Dec \ on: BTC fuck me up bitcoin_beginners
Renting is better. In time you will pay less sats.
Before I started with Bitcoin, my wife also bothered me with "let's buy a house".
When I discovered Bitcoin I said clearly: "will not buy a house, but I will try to sell everything (of value) and accumulate more BTC."
I never regret that decision.
I rented a house in a rural area and live happy, paying less and less.
Few years ago I convinced the landlord to pay him in sats the rent. He's happy too.
Owning a house can give you a false idea of ownership but it comes with more problems than you can imagine.
Now... the things get more interesting if you want to own a piece of land and live in a homestead, trying to be more self-sufficient (is not possible 100% but at least 80% is possible). For that I would pay, I am actually doing it, with my mountain "citadel".
Buying a stupid flat apartment in a city is damn stupid.
Thanks for sharing your knowledge.
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if you want to own a piece of land and live in a homestead
I really want to back up Darth on this specifically.
More Bitcoiners should understand that real estate isn't inherently a hard asset like Bitcoin, but it can be if done tactically. Real estate obviously has carry costs such as maintenance and taxes unlike Bitcoin, but you still need a place to live which then makes renting a carry-cost on Bitcoin itself.
Historically, where one can use fiat debt as purchasing leverage, a legacy property won't under-perform Bitcoin by much. I upgraded homesteads 5 years ago, and the coin I used for that down payment would be about the same fiat value as the property appreciation since then. So, I've broken-even financially over 5 years while my family has also benefited from a better quality of living.
To reiterate differently what Darth is saying, don't buy a "house" just to avoid paying rent to someone, you'll be on the losing side of that trade. Buy something rare and worthy of your Bitcoin that satisfies the subconscious human desire of getting back to Eden.
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mortgage is a pretty convenient, established, and cheap way to short the currency with juicy 7x leverage.
The equity portion (I refuse to say "down payment," it's retarded) does have great BTC opportunity cost but still. Not an insane trade-off
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