正文
This message may not be quite related with kids’ education. Please don’t blame me, but 月半豆豆 and NDMom if you don’t like it. They asked me to post this message yesterday. You know that No Worry is ready to offer ideas and is ready to help, especially when a lady asks for help.
My opinion is to go ahead and buy a house, buy it soon and buy the largest house that you are able to buy. It is not just buying a house this way, almost anything you want to buy. Buy it soon and buy the best whenever you buy something, especially a house, and expensive and durable goods (perhaps the exception of electronic and IT goods). That’s why last year, we finished our basement and added another 2,000 living Sq Ft with a very fancy entertainment center of bar, guest rooms, dancing room, movie center, bar, ping pong and pool table room. I believe that this project will cost more money of labor and materials if we do next year or later. As matter of fact, it is always my way to do things. Do it and do it now if you like it or you have to do it anyway. Otherwise, you may lose the opportunity.
Like it or not, inflation increases every year. Inflation always increases, so does manufactures and services as well as your salary in a long run. Buy a house if you are young; Buy a house if you have kids; Buy a house if you are confident in your income; and buy a house when you think that you are ready and you need a house. Don’t even worry about the house price and mortgage now and future, which never work out evenly.
For instance, in 1996 we bought our first brand new house of $260K with 5% down payment of borrowed $10K from a friend. As poor liberal art graduates, we didn’t have any savings. But we bought our first house two or three years earlier than most of our friends though their incomes were much higher than ours. And we had our first kid. Life was tough a little bit at the beginning. It did not matter too much to me as a country boy from Mainland China. I am used to a tough life.
Within two years, we paid off $10K borrowed down payment to our friend. Our income increased a couple of ten thousand dollars. Four years later our income is almost four times more. Our house market value increases too. And then we thought to buy a large house in a better school system community.
And we did. And you may be surprised that it took us only two weeks to decide to buy this brand new house and sign the contract. And we have another lovely daughter. Our income increases every year since we moved into this house three years ago. You may not believe but it is true that our house market value is already over one million. House price is going to down? I even don’t worry about it. House is securied property, which totally different from stock. House market and price may be down, but not that fast as stock. And I don’t see it will happen that soon. The house market price may still be pretty high at that time when and if the house market price is going down later. I don’t believe that house price will drop to the then purchase price later no matter what happens except huge disaster like earthquake or war on the continent of America.
And most of all, it does not just hurt only me if the house price is down. Why should I worry too much about house price? If we should worry about it, let others to worry, not me, No Worry. Anyway, I am young and I am very confident in myself. I still have many other opportunities to survive and to be successful. As always, I believe that I can do it if others can do, maybe even better. Besides I was a poor and humble country boy from Mainland China. I am already so blessed to have what I have right now. So what if one day I cannot have them of luxury house, beautiful furniture, great cars, etc? Well, I have no problem to be back in the apartment. Remember that No Worry had not enough space to sleep when he was small. I enjoy what I have right now which is the most important to me. To me, it is not to show off or an investment to buy a house. It is for living, fun, enjoy and relax.
That’s one of the reasons I have no interesting in doing any business myself like mortgage or selling house, etc. And I am not buying any stock, either. First we don’t have extra cash. Second, I am assuming that I could not sleep well while the stock is good and I could not sleep well either if stock is bad. So why do I buy stock for sleepless and unhappiness with my money? Some friends may say that some people are rich by buying stock. It is true for someone. But it is not true for me or for most of the stockholders. I once worked in a stock company and I learned that it is not me who buy stock with my salary to be rich. It is those who have great available cash and capitol by stock. I know people talking of stock and buying stock once I was in America 18 years ago. But none of them is rich; at least I didn’t see they are richer than me. Yes, I would love to buy a lottery. I love “gambling”. I‘ve got to gamble on anything as a poor and humble country boy. To me, I always win but lose nothing by gambling because I had nothing to lose. Well, don’t get me wrong. I only buy a lottery with $20 when it is over 100 million dollars. Other than that, I even don’t bother to think of it. See how “greedy” I am.
By the way, at the same time when we planning to buy the second new house, one of our old neighbor friends wanted to do the same but they were not so determined. Then they were not qualified when they really wanted to buy because the house increased its price. So think about it. Do it and buy a house now.
My opinion is to go ahead and buy a house, buy it soon and buy the largest house that you are able to buy. It is not just buying a house this way, almost anything you want to buy. Buy it soon and buy the best whenever you buy something, especially a house, and expensive and durable goods (perhaps the exception of electronic and IT goods). That’s why last year, we finished our basement and added another 2,000 living Sq Ft with a very fancy entertainment center of bar, guest rooms, dancing room, movie center, bar, ping pong and pool table room. I believe that this project will cost more money of labor and materials if we do next year or later. As matter of fact, it is always my way to do things. Do it and do it now if you like it or you have to do it anyway. Otherwise, you may lose the opportunity.
Like it or not, inflation increases every year. Inflation always increases, so does manufactures and services as well as your salary in a long run. Buy a house if you are young; Buy a house if you have kids; Buy a house if you are confident in your income; and buy a house when you think that you are ready and you need a house. Don’t even worry about the house price and mortgage now and future, which never work out evenly.
For instance, in 1996 we bought our first brand new house of $260K with 5% down payment of borrowed $10K from a friend. As poor liberal art graduates, we didn’t have any savings. But we bought our first house two or three years earlier than most of our friends though their incomes were much higher than ours. And we had our first kid. Life was tough a little bit at the beginning. It did not matter too much to me as a country boy from Mainland China. I am used to a tough life.
Within two years, we paid off $10K borrowed down payment to our friend. Our income increased a couple of ten thousand dollars. Four years later our income is almost four times more. Our house market value increases too. And then we thought to buy a large house in a better school system community.
And we did. And you may be surprised that it took us only two weeks to decide to buy this brand new house and sign the contract. And we have another lovely daughter. Our income increases every year since we moved into this house three years ago. You may not believe but it is true that our house market value is already over one million. House price is going to down? I even don’t worry about it. House is securied property, which totally different from stock. House market and price may be down, but not that fast as stock. And I don’t see it will happen that soon. The house market price may still be pretty high at that time when and if the house market price is going down later. I don’t believe that house price will drop to the then purchase price later no matter what happens except huge disaster like earthquake or war on the continent of America.
And most of all, it does not just hurt only me if the house price is down. Why should I worry too much about house price? If we should worry about it, let others to worry, not me, No Worry. Anyway, I am young and I am very confident in myself. I still have many other opportunities to survive and to be successful. As always, I believe that I can do it if others can do, maybe even better. Besides I was a poor and humble country boy from Mainland China. I am already so blessed to have what I have right now. So what if one day I cannot have them of luxury house, beautiful furniture, great cars, etc? Well, I have no problem to be back in the apartment. Remember that No Worry had not enough space to sleep when he was small. I enjoy what I have right now which is the most important to me. To me, it is not to show off or an investment to buy a house. It is for living, fun, enjoy and relax.
That’s one of the reasons I have no interesting in doing any business myself like mortgage or selling house, etc. And I am not buying any stock, either. First we don’t have extra cash. Second, I am assuming that I could not sleep well while the stock is good and I could not sleep well either if stock is bad. So why do I buy stock for sleepless and unhappiness with my money? Some friends may say that some people are rich by buying stock. It is true for someone. But it is not true for me or for most of the stockholders. I once worked in a stock company and I learned that it is not me who buy stock with my salary to be rich. It is those who have great available cash and capitol by stock. I know people talking of stock and buying stock once I was in America 18 years ago. But none of them is rich; at least I didn’t see they are richer than me. Yes, I would love to buy a lottery. I love “gambling”. I‘ve got to gamble on anything as a poor and humble country boy. To me, I always win but lose nothing by gambling because I had nothing to lose. Well, don’t get me wrong. I only buy a lottery with $20 when it is over 100 million dollars. Other than that, I even don’t bother to think of it. See how “greedy” I am.
By the way, at the same time when we planning to buy the second new house, one of our old neighbor friends wanted to do the same but they were not so determined. Then they were not qualified when they really wanted to buy because the house increased its price. So think about it. Do it and buy a house now.
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