If Bitcoin goes up very high should i buy a house?

[doublemore]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

[Denker]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

Man when Bitcoin reaches these high value I swear you need to convert into fiat. You will be able to buy a house with Bitcoin!The seller will accept Bitcoin!

[doublemore]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

Man when Bitcoin reaches these high value I swear you need to convert into fiat. You will be able to buy a house with Bitcoin!The seller will accept Bitcoin!

Yeah i know but maybe not on this next bull run.  Lets say we hit $3k- $4k in the next few months which could happen i doubt everyone well accept bitcoins for houses. Some people will sure.

[pawel7777]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

Are you storing all your wealth in bitcoins? Not very smart.

Assuming you have to live somewhere (and parasiting on your parents is not an option), housing expenses are inevitable. Therefore buying a house is usually a good move. You're saving on rent and expensive mortgage rates.

But if you don't have quite enough funds, you could always pay i.e. 70-80% from your own pocket and take mortgage on the rest.

[1Referee]

It all depends on you. If you need a house and the real estate market in your area isn't already pumped to the sky, then why not? You can also choose to buy just started companies if you think they have a very high potential of succeeding.

[lumeire]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

Man when Bitcoin reaches these high value I swear you need to convert into fiat. You will be able to buy a house with Bitcoin!The seller will accept Bitcoin!

Yeah i know but maybe not on this next bull run.  Lets say we hit $3k- $4k in the next few months which could happen i doubt everyone well accept bitcoins for houses. Some people will sure.

That's too much of a bull run even if we have the halving next year. Everyone would have sold before that comes that the price would come crashing back to where we are now.

@ontopic, why a house? A much better option would be something income generating - like a franchise.

[doublemore]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

Are you storing all your wealth in bitcoins? Not very smart.

Assuming you have to live somewhere (and parasiting on your parents is not an option), housing expenses are inevitable. Therefore buying a house is usually a good move. You're saving on rent and expensive mortgage rates.

But if you don't have quite enough funds, you could always pay i.e. 70-80% from your own pocket and take mortgage on the rest.

Yeah im currently at about 50-60% of networth in bitcoin/litecoin and i think its ok.  I have a good little small business growing on the side which takes all my time and effort.  If bitcoin dies i'll be ok.

It would be good to save on rent so i guess i will buy a house when bitcoin hits moon. I really just dont want a mortgage if possible but i might just have an irrational mortgage phobia, to cash buy a house for most of networth could be bad, i dunno, never really understood mortgages and housing.

[Amph]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

Man when Bitcoin reaches these high value I swear you need to convert into fiat. You will be able to buy a house with Bitcoin!The seller will accept Bitcoin!

Yeah i know but maybe not on this next bull run.  Lets say we hit $3k- $4k in the next few months which could happen i doubt everyone well accept bitcoins for houses. Some people will sure.

then you need to convert simpe as that, in both case you need to pay the taxes, because an house is something that cannot pass unnoticed

i'm also waiting for bitcoin to rise so i can buy a small house for myself, nothing crazy

[n2004al]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

You must define what do you mean with "very high figures".

But a priory my answer it will be following. Depends firstly from the number of bitcoins you have and the need for house you have. And from the market of the houses where you live. I will buy a house with bitcoin only if I would have minimum the double of bitcoins which I will spend to buy the house (not true in your case), if I will be in high need for a house and probably if the market of houses in my country will be a good one - which mean that the value of my house will be greater in the future (with big probabilities because no one known how it will be the prices of this kind of products in the future). Otherwise will try to buy it with normal money (with credit in your case).

You will have always the bitcoins as a warranty if you will take a credit. So why use bitcoin which can have much higher price in the future?

If you believe that the above "high figures" mentioned by you will be the upper limit of the price of bitcoin no one of my abovereasoning have meaning for you. But I think that the max price of bitcoin needed to much time to be reached. Not so early. In those suppositions are based all my above thoughts.

Anyhow these are only guessings. Everyone know himself what is best and is worst for him. So the right decision can be taken only by you.

[doublemore]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

Man when Bitcoin reaches these high value I swear you need to convert into fiat. You will be able to buy a house with Bitcoin!The seller will accept Bitcoin!

Yeah i know but maybe not on this next bull run.  Lets say we hit $3k- $4k in the next few months which could happen i doubt everyone well accept bitcoins for houses. Some people will sure.

That's too much of a bull run even if we have the halving next year. Everyone would have sold before that comes that the price would come crashing back to where we are now.

@ontopic, why a house? A much better option would be something income generating - like a franchise.

House doesn't take management like a franchise, i can invest a little more into my own business but not much.

Buying a house outright with no mortgage saves me $1k rent a month also.

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

You must define what do you mean with "very high figures".

But a priory my answer it will be following. Depends firstly from the number of bitcoins you have and the need for house you have. And from the market of the houses where you live. I will buy a house with bitcoin only if I would have minimum the double of bitcoins which I will spend to buy the house (not true in your case), if I will be in high need for a house and probably if the market of houses in my country will be a good one - which mean that the value of my house will be greater in the future (with big probabilities because no one known how it will be the prices of this kind of products in the future). Otherwise will try to buy it with normal money (with credit in your case).

You will have always the bitcoins as a warranty if you will take a credit. So why use bitcoin which can have much higher price in the future?

If you believe that the above "high figures" mentioned by you will be the upper limit of the price of bitcoin no one of my abovereasoning have meaning for you. But I think that the max price of bitcoin needed to much time to be reached. Not so early. In those suppositions are based all my above thoughts.

Anyhow these are only guessings. Everyone know himself what is best and is worst for him. So the right decision can be taken only by you.

Very high figures would = $3-$5k before end of 2016.  In 2020 i think we could easy be 5 figures. 

It all depends on you. If you need a house and the real estate market in your area isn't already pumped to the sky, then why not? You can also choose to buy just started companies if you think they have a very high potential of succeeding.

Where i live in UK the market is pumped to the sky. but how much could it really crash, down by half at best?  not like a bitcoin crash, the land will always be worth something even if the bricks aren't.

[pawel7777]

...
Where i live in UK the market is pumped to the sky. but how much could it really crash, down by half at best?  not like a bitcoin crash, the land will always be worth something even if the bricks aren't.

50% crash is not probable. Although if UK was to leave the EU, that could lead to much less demand and in turn to properties prizes drop.

The good thing, if you're buying house (cash, not mortgage) for yourself (not to rent or re-sell), is that you don't have to be that much concerned about its value. All that really matters are your monthly costs, and the amount you save as compared to renting or paying mortgage.

As for land, you do have a point, but you don't know what the future will bring, the government can introduce tax on value of property (catastral tax), to prevent speculative land holdings and to generate more income.

[prodigy8]

It depends on how much are you holding.
Because a house can't be bought with 1BTC - 100BTC.
I was thinking if you are selling your house and buy btc and then when the price increases to buy another house.
This is the most worst action to do, anyway good luck.

[TastyChillySauce00]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

ofcourse you can, but it only happen if you have much of btc or atleast have pretty much btc for buyin somethin

[Paashaas]

Because a house can't be bought with 1BTC - 100BTC.

You can buy a house after a few bullruns with that amounth of coins.

Remember the pizza guy with his 10.000 coins? think what you can buy in 2015 with all those coins.

Reinvesting youre profit in a new house is a real good move imo.

[crazyivan]

If Bitcoin goes up very high should i buy a house?

Ive been thinking if it went into very high figures i could cash out 80-90% of bitcoin and buy a house outright with no mortgage.  Is that even a good idea though? - basically 80% of networth in a house hmmm.  On the other hand i dont want to have a mortgage and im fed up with renting due to landlords, letting agents and lack of control.

What does very high mean? I suppose you mean $10k per BTC? More?

Investing into real estate is always a good way to preserve your wealth over time. Maybe you can a property which can be leased as well? Why stop?

[RodeoX]

I think it's a smart move to diversify. This is still all a social experiment and is far more likely to go away than real estate.

[Q7]

Your should use your bitcoin directly to buy the house instead of converting to fiat and then use it to pay. It's your bitcoin anyway, so it's up to you what you wanted to do with it. Property should be a good investment and it's like diversifying your portfolio and spread your risk around. I already have my plans on what I wanted to do with mine

[Anmol_Verma]

Yes say if you bought bitcoins at worth of a car and
now it's worth is such that you can buy a house then
sure go for it else store and hold bitcoins as much as you can and cashout when it's 2000x in value when you bought it.

[richardsNY]

Real estate investments are good to have in your portfolio. I will most definitely do the same if the price gets high enough for me to afford a house.

[pawel7777]

Remember the pizza guy with his 10.000 coins? think what you can buy in 2015 with all those coins.

Please stop using this argument. If not for the 'pizza guy' and others who were giving away hundreds if not thousands of coins, Bitcoin probably would never go off the ground.