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

[SolarSilver]

Real estate, over the long term, tends to underperform the equity markets.
Plus, it is illiquid.
These are factors you should consider before buying a house as an investment.

good point: before you buy a house you need to decide in what region or even country you want to buy a house because once bought you'll be stuck with it for a long time.

If for example your employment changes and you want to relocate to another region to get another (better) job, you will be limited in your freedom to move around. If everybody around you wants to leave the area you'll have a hard time finding a new buyer at a competitive price.
(for example oil money leaves Alberta, no more lucrative jobs, house prices collapse)

If the government wants to increase taxes on your house, there is little you can hide or move it to another country, while with other investments you can take them abroad.

A house is kind of the opposite of Bitcoin: very visible and not easy to take it with you

[1714764796]

1714764796

[Zorrocoin]

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!

I agree completely. The day the value touches that high a level more and more product and service vendors will start accepting BTCs in payment and transactions. Hope to see that day soon.

[cbase]

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!

Man! if you think your 80-90% net worth is enough to buy a house without mortgage then what are you waiting for? Isn't earning the reason we trade, mine etc. It is for you to spend at the end of the day, right?

[DaddyMonsi]

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.

Question is how much Bitcoins do you in stack? If you only have 1 Bitcoin and price shoots up to 600 USD, I guess it's not enough to buy a house.

[Cereberus]

Most of the answers here would suggest you not buy one. I would agree with the majority here as they are intelligent people who know what and what not you can do with bitcoin.
Always go with your gut when in doubt. That will never fail you  

[StevenLiang]

Most of the answers here would suggest you not buy one. I would agree with the majority here as they are intelligent people who know what and what not you can do with bitcoin.
Always go with your gut when in doubt. That will never fail you  

Not to buy because of his BTC value.
If he have more than 500 BTC, of course it's better to buy one apartment or house.

For myself, i would like to hold approx 50-70BTC only. So it can not buying a new house.
But that is a nice max investment for me today.

[dinda22]

having a home is everyone's dream. so I suggest when bitcoin prices high and you have lots of money you must to buy a house

[Light]

Most of the answers here would suggest you not buy one. I would agree with the majority here as they are intelligent people who know what and what not you can do with bitcoin.
Always go with your gut when in doubt. That will never fail you  

Mainly because most of the people here are a little too fanatic about Bitcoin. They are working on an assumption that Bitcoin will continue to rise in value indefinitely if one simply waits long enough (which is most definitely not the case).

IMO, depending on where you are, how much Bitcoin you have, how many other assets you have and your expectations of the future value of Bitcoin you might consider buying a house. If you're in a region where property isn't a good investment then I would only purchase one if you needed one (i.e. long term rental losses) or they offer things such as negative gearing etc. which offer tax breaks.

[Emersonnets]

If it ever goes up that high than yes you could and you should

You'd also be able to buy/trade more if it gets to that point

[RobinHoodster]

You can do it. But me I think I will wait when I am very old if BTC still excist.

Than over 50 years maybe BTC is 50.000 dollar and I can retire.

[StevenLiang]

House is not an investment. House is a debit, like car, like electronic.
Try to use your earning in investments that generate credits for you.

Poor buy things that generate debits.
Rich buy things that generate credits.

Do your sacrifices now, if you want to become rich and buy a house.

I got your point.
But sometimes it's better to have your own home, small house is fine but it is your's.

Because on nowadays you will pay more bill for renting.
I agree house is not asset that can generate income.

[winspiral]

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

yes of course you should.

and if bicoins goes very very high...
then you should buy even two houses.

[bitcoinmar]

You can buy a home very soon as its now going high again we already watch 2015 high rate and hoping for another good rise in future even many rumors and problems coming but this is going to the moon

[tom555]

yes you should buy it. bitcoin was a future technology if shared continusly,and people will glad if thy can bought something new with new payment or new currency,lets spread bitcoin. and by the way,i also build my small house on my town,and some of stuff bought with cash from bitcoin,i will tell my story to my child sometime,and i think on that day,bitcoin more popular,or may be has gone..but i still hope that bitcoin will accepted everywhere,and legall everywhere  

[bryant.coleman]

Dumping 90% of all your bitcoin holdings can be quite risky. BTC is going at $350-360 right now. But once the bloc reward halving occurs, there is a chance that the exchange rate can climb to $1,000 or above. So IMO, it will be better to convert 50% of your coins to fiat right now, and hold the remainder for the long term.

[jaysabi]

A house costing money to maintain doesn't make it not an asset. If the house has any value, it's an asset. That's literally the definition of an asset. If you want to dispute whether it's a good investment, fair enough, but it is factually an asset.

Definition: An asset puts money in your pocket. A liability is costing you money.

The longer you keep a liability, the more it will cost you.

A house is not earning you money, unless you can rent it out and even then it's not always break even.

It's an obvious mistake to label your own house as an asset, and most of the confusion is deliberate by the industry that builds and sells houses. Real estate agents and bankers will keep insisting on spreading the myth that a house is an asset but it's not.

The fact that you save rental money by living in your own house does not make it an asset, the same way that having a car is saving you taxi money.

Is a car an asset? A car has (any) value, so that would make it an asset in your definition, correct? It's clear a car is a liability because it is costing you tax money to keep it on the road, it is costing you insurance annually, you have to pay for a parking space or garage to just store it and if you actually drive it, it's costing you fuel. And intuitively you see it as a liability because it actually (most of the times unless it's a rare classic car) decreases in value when you try to resell it.

Yes house prices can go up, but that does not mean it's an asset. If you think houses go up in value then you never owned and maintained a house. Any house older than 20 year will cost you a fortune in maintenance to keep it up to specs with for example isolation and heating. A house 40 years old has little value unless you want to redo all the plumbing and electricity.

So why do house prices sometimes go up, even if after they are sold they are gutted and completely refurbished? Because of the location: land prices go up and having a casco of a house on it, means you can rebuild it within the existing zoning restriction rules.

Houses are not an asset. If it would be an asset, the bigger the home, the more money it would put in your pocket. The more houses you owned, the money they would generate...

http://lmgtfy.com/?q=the+house+you+live+in+is+not+an+asset

I know it's confrontational for many people aspiring to own a house (and please don't take it personally that I'm pointing this out jaysabi) but trust me: your house is not an asset

Don't take my word for it, google around

That is not the definition of an asset. An asset is something that has value. Period.

A house is an asset. And yes, a car is an asset too. Please read the economic definition of asset before you post anything further: http://www.investopedia.com/terms/a/asset.asp  

The definition of an asset is not something that earns you money, it's something that has value. This is so basic, it's pointless responding further.

[Hugroll]

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.

if ur renting rn, i highely suggest buying a house if you can afford. you're losing a lot more money by paying rent monthly compared to the profit u gain by bitcoin prices going up.

[SolarSilver]

That is not the definition of an asset. An asset is something that has value. Period.

A house is an asset. And yes, a car is an asset too. Please read the economic definition of asset before you post anything further: http://www.investopedia.com/terms/a/asset.asp  

The definition of an asset is not something that earns you money, it's something that has value. This is so basic, it's pointless responding further.

Yes this is so basic and you seem not to read the definition in the link you post yourself because you are sure you understand what an asset is:

BREAKING DOWN 'ASSET'
1. Assets are bought to increase the value of a firm or benefit the firm's operations. You can think of an asset as something that can generate cash flow, regardless of whether it's a company's manufacturing equipment or an individual's rental apartment.

if you own something (a house, car, iPhone, laptop) and it is not increasing your value, as in it is not paying for itself and bringing in money, then it's not an asset.

Then it's a liability. Then it's costing you a money. Then you need a job to pay for all the stuff you own. And the more stuff you own, the more you need to work to keep up with all the bills.

And that is the problem... most of us don't own any assets. We only own liabilities... we are lured into spending our hard earned money on things to keep us poor. You subsidize your liabilities be working for them like a slave.

I like the way kaselit put it:

Poor buy things that generate debits.
Rich buy things that generate credits.

It's true that "An asset is something that has value" but it also needs the property that it keeps it's value. If it's not putting money in your pocket then slowly it's losing all it's value. If your iPhone is worth USD 600 and it's costing you USD 50 / month to own it than after one year it has value USD 0. Is it still an asset? It can get even to negative value after 1 year. Is it still an asset?

Painfull as it is, most of us never owned an asset and probably never will. Unless you understand fundamentally what an asset is.

Children never get a true financial education at school and they are prepped as consumers to spend spend

jaysabi, be honest, do you own anything that generated money? Anything that pays a dividend while you are away on holidays, when you are not around?

Most of the things we own are costing us money and that money goes to other people and companies. For them it's an asset on their books. For us it's a liability

Take 3 minutes and read

http://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/april-2013/rich-dad-scam-6-your-house-is-an-asset.aspx

[gampher]

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.

depends on how much coin you have ?plus if bitocin goes that high then where is dollar standing ?
why would you invest in a collapsing currency then.

[Sir_lagsalot]

Why would you need to convert to fiat? If bitcoin goes that high, people will buy and sell HOUSES for bitcoin!

Yes, buy a house if the housing market is good in your country, or invest in something else, like gold. It's fun to make profit, and its good when you make alot