Should I buy a house?

[tominphx]

Home prices are incredibly low near me, I have enough money to actually buy a house cash right now.  I would than no longer have to pay rent, and would have far more space, both for living, storage (of preps as well of course) and maybe even an actual yard that I could plant a small garden in.

Does it make sense to buy a home in the Phoenix metro area? Or will it just be a death trap?

[Reaver]

If you can buy the house out right yes. Go for it. Build a garden as well as many contingancy plans to go along with it.

Renting is wasting money. I hate renting. But I must currently as well 

[Buck Naked]

I expect a post by Monday saying that you put an offer down on a house!!!!!!
Do it man and good luck!

[tominphx]

I plan on doing this after the new year at the earliest, my job is too crazy during the holidays, and my lease is up right in february anyway.


I was also browsing properties in more rural areas, possibly also thinking of buying some rural undeveloped land as a BOL.

[JohnyMac]

Tominphx,
if the economy collapses the $$$ you have now will not be worth squat. You will have worthless $$$ and live in a rental. If you buy the house you will have left over worthless $$$ and a roof over your head.

Just some food for thought. Ultimately it's your call.

[tominphx]

Yeah that's part of my thinking, I want to get out of dollars.

I'm just concerned about the Phoenix metro area, there's little to no water here, millions of people, and 115 degree summers.

[JohnyMac]

I use to fly in and out of PHX often on business and personal reasons- My father lived in Cottonwood half the year and Williams the other half.

IMO Phoenix is a hell hole and folks stuck there will perish. Once Phoenix is looted strengthened bands will eminate out of the city looking for their next drink of H20 or food.

With that said, if your job keeps you in Phoenix then you don't have much of choice other then to rent or buy in Phoenix.

> Rent in Phoenix and buy land north of the city for a BOL or
> Buy smartly in Phoenix with your eye towards defense, land for growing and H20.

Hey, I have a single wide trailer for sale in Cottonwood if you are interested. Small lot but nice neiborhood.  My father passed away in 2008 and the legal mumbo jumbo is coming to an end so it will be up for sale by year end. PM me if you want more info. 

[Veritas]

Should you buy a house over renting?   If you can afford to, YES.

If you are in the fortunate position to acquire a house without having to take out a mortgage, you are in a much better position then renting for a number of reasons.  If the economy collapses or you lose your job, and you own a home then you don't have to worry about coming up with a rent check every month.

At this point, it is unlikely that the real estate market will come back inside of a decade for a number or reasons.  I personally think we have yet to hit the bottom, but if you can find the right place I'd say go for it.  Bear in mind that people are desperate right now to sell, so that puts a lot of power on your side of the table.

I don't know your personal situation concerning work, family, or even the general area of Phoenix.  If I were in your shoes, I'd try to get the hell away from the metro areas if at all possible.  Maybe on the outskirts of town???  In a perfect world you would be able to find a place that is out of the way from people and still have a decent commute to work.

If you can get your hands on this book, there's a lot of good info in there.   You can always sell it on eBay when you're done with it.

http://www.joelskousen.com/strategic.html

[JohnyMac]

Great find (book) Veritas- Thanks.

[mountainredneck2051]

from the time i spent in pheonix all i can say is good luck bro

mass numbers
no water
and the cartels and shit all run through there

i'd look at somewhere like payson, climate is less extreme there is water and far less people and the gangs/cartels aint up there yet

[NOLA556]

that's a tough question IMO. my gut says go for it, but make damn sure it's in a defensible position. scope out the entire neighborhood, not just the block. entry points, routes of egress, choke points, etc.

EDIT: I think Veritas nailed it. If I were in a financial situation as fortunate as yours, and I was thinking about buying, it sure as shit wouldn't be anywhere near New Orleans or it's suburbs. I'm not familiar with Phoenix, but I think the same general rule of thumb applies to any major metro area.

[tominphx]

Payson would be nice, but there's no jobs up there.

Like I said before, I'm also considering buying an acre or 2 much further north, maybe chipping in with some like minded folks, maybe build a conex box compound, and have it be a BOL.

[tominphx]

Just thought I'd post an update. Almost one year after starting this thread, and after trying to find a house, and several offers that fell through, I finally had an offer approved by both the bank and the "owner" (the bank is the real owner when you have a mortgage, which the seller did).

I am going for the inspection monday, but don't expect any issues, since the house has new plumbing, A/C etc, and was occupied until recently.

No more tiny apartment or rent payments for me! 

[JohnyMac]

Cool beans man! [URL=http://www.smileyvault.co

Good luck!! 

[crudos]

Great news Tom, hope it works out. Is it still in metro Phoenix?

Having become a very recent home owner myself, there is something really nice about getting out of the rental circus and having your own place. If you want to dig a flaming moat around your property, then you can and not have to worry about namby-pamby rental owners complaining. 

[Kentactic]

Great news Tom, hope it works out. Is it still in metro Phoenix?

Having become a very recent home owner myself, there is something really nice about getting out of the rental circus and having your own place. If you want to dig a flaming moat around your property, then you can and not have to worry about namby-pamby rental owners complaining. 

Dont let code enforcement find out lol

[tominphx]

Thanks!

It is in metro phoenix, but in far north phoenix, almost at the edge of where it goes from city to desert.


It will certainly be nice not only having more room, but an actual garage and backyard.