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Anyone on here up for giving a young #bitcoiner some advice? Life is getting as hectic as a shitcoiner trading meme coins.

I’m 24, I got engaged and a week later found my fiancé is pregnant. Fantastic news, can’t wait to be a dad.

Trouble is we are both living with our parents, cool need to find a place to live.

Question is #rent vs #buy?

Everything I have learned over the past 2 years or so is a house is a massive debt trap. House prices in my area of the #UK (south East) are high and rent is probably similar maybe a bit more than a mortgage.

My fiancé (a true superstar) is great at saving as more than enough for deposit where as I have almost nothing (no one’s fault but my own here). However my earning potential is much higher than hers and I would expect to take over any mortgage or rent payments once I get my next role (should see a big bump in pay - IT support -> Cybersecurity)

I have no interest in remaining in the UK long term (5 years max) so I’m really not comfortable buying a house, but wouldn’t be opposed to it.

My idea is to rent for a year or so, so that I can get this next job and then look for somewhere cheaper to live/be able to afford a mortgage

Everyone seems to be telling me not to rent, but these are the same people telling me that Bitcoin is a waste of time etc. I’m incredibly conflicted right now.

Any #advice welcome 🙏🏽

#asknostr #bitcoin #housing

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Discussion

SunshineAndRainbows 2y ago

Don’t move out if you don’t have to.

Those extra hands will be invaluable for you to get on your feet.

JumpSpotJulian 2y ago

Not sure it would work with the kid, the house we would hope to get would be in the Area

SunshineAndRainbows 2y ago

The point is to not move out - because- of the kid

JumpSpotJulian 2y ago

I understand, but we don’t have space here man. I would love to stay

bevo 2y ago

Taking a deposit and buying corn and holding it for 5 yrs would mean two more halvings. In fiat terms the value will outstrip that of a house I believe. In 5 yrs you could then opt to trade some corn for a house with corn left over. Sounds like a plan

JumpSpotJulian 2y ago

Not my deposit to buy corn. Trust me I would not be looking at buying a house right now if it weren’t for a kid on the way

elsat 2y ago

Housing is a consumption good. Whatever you have leftover post consumption is your savings. This is a very personal equation that only you can decide.

JumpSpotJulian 2y ago

Thank you

SatsMan 2y ago

Stack sats, study bitcoin and accumulate as much as you can. That’s your priory now. Congrats for the baby

JumpSpotJulian 2y ago

Thank you

serenitys forge 1y ago

For now, and if it means you can save for a deposit i'd rent.

It's a personal belief that house prices here in the UK will crash in spring 2025.

Long term, id change your thinking. Instead of looking at a house as a debt liability, think about ways to monatise and off set costs so your house becomes a net income stream.

JumpSpotJulian 1y ago

Hey man,

We ended up buying a flat, which ended up being 50% cheaper per month than renting in our area.

I’m clearing that last remaining bit of my debt this month and then we begin a massive push to save in Bitcoin in the future.

It was tough but we made the right decision.

Thanks for your input nonetheless.

serenitys forge 1y ago

Thats cool mate, glad you got sorted and have a stable base to move forwarx with life. I've just became a grandfather so a new born changes everything 🤣

Good luck to you and your otherhalf, you'll smash it 🫂

JumpSpotJulian 1y ago

Congrats on the newborn, my baby is due end of his month!

serenitys forge 1y ago

She's a cutie and developing fast. Me and my partner are so proud of her mum 😁