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

[QuestionAuthority]

All young people should buy a house but NOT WITH BITCOIN and here's why:

Pride of Ownership
Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.
 
Appreciation
Beyond pride of ownership, it's important to realize another benefit. First, real estate moves in cycles, sometimes up, sometimes down, yet over the years, real estate has consistently appreciated. The Office of Federal Housing Enterprise Oversight tracks the movements of single family home values across the country. Its House Price Index breaks down the changes by region and metropolitan area. Many people view their home investment as a hedge against inflation.
 
Mortgage Interest Deductions
Home ownership is a superb tax shelter and our tax rates favor homeowners. Sometimes the mortgage interest deduction can overshadow the desire for pride of ownership as well. As long as your mortgage balance is smaller than the price of your home, mortgage interest is fully deductible on your tax return. Interest is the largest component of your mortgage payment.
 
Property Tax Deductions
IRS Publication 530 contains tax information for first-time home buyers. Real estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. In California, the passage of Proposition 13 in 1978 established the amount of assessed value after property changes hands and limited property tax increases to 2% per year or the rate of inflation, whichever is less.
 
Capital Gain Exclusion
As long as you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains. You do not have to buy a replacement home or move up. There is no age restriction, and the "over-55" rule does not apply. You can exclude the above thresholds from taxes every 24 months, which means you could sell every two years and pocket your profit--subject to limitation--free from taxation.
 
Preferential Tax Treatment
If you receive more profit than the allowable exclusion upon sale of your home, that profit will be considered a capital asset as long as you owned your home for more than one year. Capital assets receive preferential tax treatment. This means even if your profit exceeds the exclusion, the taxable portion will be much less than you might imagine.
 
Mortgage Reduction Builds Equity
Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The way amortization works, the principal portion of your principal and interest payment increases slightly every month. It is lowest on your first payment and highest on your last payment. On average, each $100,000 of a mortgage will reduce in balance the first year by about $500 in principal, bringing that balance at the end of your first 12 months to $99,500.

Your credit score will go through the roof if you pay your mortgage on time every month. I've owned a home every year of my life since I was 19 years old and I don't believe my credit score has ever been lower than 820.

[Senor.Bla]

in my opinion, when bitcoin goes up, your plan to buy a house should change into bigger than a house maybe you will buy an apartment or hotel because in your hand you have a lot of i mean a big huge money and i am not sure if you are only buy a house rather than to buy something that really expensive.

People here are ambitious enough to buy a house when the price of bitcoin is very high, in my case since I do have a house already I will not buy anymore as there is no purpose, I will just then invest on business in real world so I will be able to use my skills and deploy my passion.

maybe you still should consider to buy one more. here is a reason why. you could rent it out and thereby generate a somewhat sure passive income. investing in businesses is fine, but they are a bit more risky and tend to pay of later rather then sooner.

[Ziskinberg]

in my opinion, when bitcoin goes up, your plan to buy a house should change into bigger than a house maybe you will buy an apartment or hotel because in your hand you have a lot of i mean a big huge money and i am not sure if you are only buy a house rather than to buy something that really expensive.

People here are ambitious enough to buy a house when the price of bitcoin is very high, in my case since I do have a house already I will not buy anymore as there is no purpose, I will just then invest on business in real world so I will be able to use my skills and deploy my passion.

maybe you still should consider to buy one more. here is a reason why. you could rent it out and thereby generate a somewhat sure passive income. investing in businesses is fine, but they are a bit more risky and tend to pay of later rather then sooner.

If for business purposes then it's good to buy a new house, in that way you do not consider your new house as a liability but an investment. People think and directly assume that house is an investment but they do not think it depends on how you use the house, if it generates income then it will fit on the definition as an investment.

[daniahya]

in my opinion, when bitcoin goes up, your plan to buy a house should change into bigger than a house maybe you will buy an apartment or hotel because in your hand you have a lot of i mean a big huge money and i am not sure if you are only buy a house rather than to buy something that really expensive.

People here are ambitious enough to buy a house when the price of bitcoin is very high, in my case since I do have a house already I will not buy anymore as there is no purpose, I will just then invest on business in real world so I will be able to use my skills and deploy my passion.

maybe you still should consider to buy one more. here is a reason why. you could rent it out and thereby generate a somewhat sure passive income. investing in businesses is fine, but they are a bit more risky and tend to pay of later rather then sooner.

If for business purposes then it's good to buy a new house, in that way you do not consider your new house as a liability but an investment. People think and directly assume that house is an investment but they do not think it depends on how you use the house, if it generates income then it will fit on the definition as an investment.

It is true we can make the home arena of business if we can manage it well, typically House prices will rise depends like which way you use and how what you promote there my family also bought a House and resell it at a price that he bought, fortunately very fair in my opinion

[dhampir-D]

This is a very user-dependent issue. If it was something I really needed to buy atm, I would consider it a good investment. But I would make the investment only if it does not compromise my financial life. It depends on the individual and situation.

[noictib]

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 should buy not only a house but a big house .
But i will suggest for fiat you need to sell your bitcoin wisely .
Be careful during the sell of Your bitcoin during the speedy increase price , If some more probability is looking for the future that price will rise then stop selling and wait for increase price .

[mirakal]

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 should buy not only a house but a big house .
But i will suggest for fiat you need to sell your bitcoin wisely .
Be careful during the sell of Your bitcoin during the speedy increase price , If some more probability is looking for the future that price will rise then stop selling and wait for increase price .

As long as you make profit there would be no problem with that, you are free to sell your bitcoins anytime when the price is high. Buying a house is a good option  especially if you are planning to use that house as your business so it will also generate income.

[olushakes]

That would be a good decision and I would also do same if i have the right amount of Bitcoin to make that happen. I belief its possible but one just need the right amount of determination to make that happen because of the fear that when I sell now, what if the price increases tomorrow? Maybe I should wait a little bit before selling? all this questions will definitely want to stand in the way of that dream and needs to be answered quickly.

[Senor.Bla]

in my opinion, when bitcoin goes up, your plan to buy a house should change into bigger than a house maybe you will buy an apartment or hotel because in your hand you have a lot of i mean a big huge money and i am not sure if you are only buy a house rather than to buy something that really expensive.

People here are ambitious enough to buy a house when the price of bitcoin is very high, in my case since I do have a house already I will not buy anymore as there is no purpose, I will just then invest on business in real world so I will be able to use my skills and deploy my passion.

maybe you still should consider to buy one more. here is a reason why. you could rent it out and thereby generate a somewhat sure passive income. investing in businesses is fine, but they are a bit more risky and tend to pay of later rather then sooner.

If for business purposes then it's good to buy a new house, in that way you do not consider your new house as a liability but an investment. People think and directly assume that house is an investment but they do not think it depends on how you use the house, if it generates income then it will fit on the definition as an investment.

It is true we can make the home arena of business if we can manage it well, typically House prices will rise depends like which way you use and how what you promote there my family also bought a House and resell it at a price that he bought, fortunately very fair in my opinion

just to clarify. you need to already have some serious money to buy a house and just take a small loan to purchase it. this is still a long term investment. sure if you lucky you might sell it quickly for a big win, but then you are really lucky and could also bet on horses.
the main thing about this is, that it will always generate money for you. sometimes more sometimes less, but the chances of it getting you nothing in return are very slim. so this is kind of a playing it safe.

[jcojci]

in my opinion, when bitcoin goes up, your plan to buy a house should change into bigger than a house maybe you will buy an apartment or hotel because in your hand you have a lot of i mean a big huge money and i am not sure if you are only buy a house rather than to buy something that really expensive.

People here are ambitious enough to buy a house when the price of bitcoin is very high, in my case since I do have a house already I will not buy anymore as there is no purpose, I will just then invest on business in real world so I will be able to use my skills and deploy my passion.

me too and i am agree with you because we should spread our money in many investment in real life so we make more money beside that its good for our wealth to be growth. and i think i will be buy an apartment or buy a gold and save in my bank account locker.

[ChronoLite]

in my opinion, when bitcoin goes up, your plan to buy a house should change into bigger than a house maybe you will buy an apartment or hotel because in your hand you have a lot of i mean a big huge money and i am not sure if you are only buy a house rather than to buy something that really expensive.

People here are ambitious enough to buy a house when the price of bitcoin is very high, in my case since I do have a house already I will not buy anymore as there is no purpose, I will just then invest on business in real world so I will be able to use my skills and deploy my passion.

me too and i am agree with you because we should spread our money in many investment in real life so we make more money beside that its good for our wealth to be growth. and i think i will be buy an apartment or buy a gold and save in my bank account locker.

Have many investment would be great but we should think where we want to invest and choose carefully because lot of sites this time are scam and it's possible your site is scam too . If you success manage it you'll be good and we can buy a house and apartment for sure.

[mastica]

If bitcoin goes up very up i would put a big part of those money into banks at my savings with the other part i would buy maybe a car or a land to build my own house, and who knows i may rent it since i do have already an house.

[jonpande]

I think it was a pretty good idea, houses could also rise in value, and you can resell it for a profit as well. but the problem is whether the person who sold his house to be aware and know about Bitcoins and will accept Bitcoins as payment method?

[Senor.Bla]

I think it was a pretty good idea, houses could also rise in value, and you can resell it for a profit as well. but the problem is whether the person who sold his house to be aware and know about Bitcoins and will accept Bitcoins as payment method?

i think he was talking about exchanging bitcoin for fiat and then buying a house. although there are people selling houses for bitcoin it is not really common and i do not see the need to do so. oh and btw a house can also go down in value, so you need to be aware what you are buying.

[goldcoinminer]

I think it was a pretty good idea, houses could also rise in value, and you can resell it for a profit as well. but the problem is whether the person who sold his house to be aware and know about Bitcoins and will accept Bitcoins as payment method?

i think he was talking about exchanging bitcoin for fiat and then buying a house. although there are people selling houses for bitcoin it is not really common and i do not see the need to do so. oh and btw a house can also go down in value, so you need to be aware what you are buying.

Yeah, because that's the only possible way where you can buy a house using your bitcoin. I have not seen any business yet that accept bitcoin as payment for selling a house and lot, it's impossible to do it considering the legal matters that needs to be attach in the transaction.

[Senor.Bla]

I think it was a pretty good idea, houses could also rise in value, and you can resell it for a profit as well. but the problem is whether the person who sold his house to be aware and know about Bitcoins and will accept Bitcoins as payment method?

i think he was talking about exchanging bitcoin for fiat and then buying a house. although there are people selling houses for bitcoin it is not really common and i do not see the need to do so. oh and btw a house can also go down in value, so you need to be aware what you are buying.

Yeah, because that's the only possible way where you can buy a house using your bitcoin. I have not seen any business yet that accept bitcoin as payment for selling a house and lot, it's impossible to do it considering the legal matters that needs to be attach in the transaction.

i just googled "buy house bitcoin" and yes, there are possibilities to buy housing in bitcoin. see for yourself. i still do not see the advantages of that, but it is possible. the whole legal stuff is manageable, but why do the extra work if you have no advantages?

[kryptqnick]

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.

I think that if you want to have a house then you should buy it, because otherwise you can just earn money and keep it for some occasion that never comes and just die not using it and limiting yourself for all your life. Or Bitcoin can suddenly explode and you will end up with no money and no house.

[saiha]

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.

I think that if you want to have a house then you should buy it, because otherwise you can just earn money and keep it for some occasion that never comes and just die not using it and limiting yourself for all your life. Or Bitcoin can suddenly explode and you will end up with no money and no house.

Yes that's the possibility if you will not secure your money, bitcoins and profits for getting your own home.

Then you will miss a chance of getting it or else you will regret that you haven't bought any property investment as you hold the amount.

Because this is the best investment that you can ever made.

[freedomgo]

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.

I think that if you want to have a house then you should buy it, because otherwise you can just earn money and keep it for some occasion that never comes and just die not using it and limiting yourself for all your life. Or Bitcoin can suddenly explode and you will end up with no money and no house.

Yes that's the possibility if you will not secure your money, bitcoins and profits for getting your own home.

Then you will miss a chance of getting it or else you will regret that you haven't bought any property investment as you hold the amount.

Because this is the best investment that you can ever made.

I will only buy if there's a possibility that I can earn money from buying a house such like using it for renting.

[ethereumhunter]

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.

I think that if you want to have a house then you should buy it, because otherwise you can just earn money and keep it for some occasion that never comes and just die not using it and limiting yourself for all your life. Or Bitcoin can suddenly explode and you will end up with no money and no house.

agree with this and i hope that you don't miss the chance for buying a house because we don't know until when we can still make profit from bitcoin and as long we have much of money, then its wisely for buy much of investment and then we can reach the dreams that many people want which is passive income for the rest of our life.