House or a Semi ???

House, but wait till you can pay cash for it.

 

Ditto

 

Buy a house. Pay cash for it. Or a 10 year mortgage. But pay it off as a fast as you can. Then, be debt free and the truck can follow.

 

OP is single, he'd have to pay over $1,000 in interest PER MONTH before he sees ANY benefit, since the standard deduction is $12,200 for 2020.

So if he buys a house wth a 300K mortgage, at 4% interest, his net tax benefit is..... zero.

If he buys a house with a 500K mortgage, that's 20K in interest per year. Since he's in the 24% tax bracket, he saves 24% on 8k (he has to give up his $12,200 standard deduction to itemize the $20K), or $1,920 less in taxes.

So, bottom line, he has to pay the bank $20 K to get a $2K tax benefit -- does that seem stupid to anyone else? How about he pays the $2K to the government, and pockets the $18K?

That said, to answer the question, I'd say NEITHER. Invest the money wisely, keep your job, work your tail off, and in less than 10 years you'll be at "critical mass": your investments will generate more money than your job does.

 

Buy a du or triplex. Rent extra what u don’t use. Have a management company handle all the rent and fix it stuff. Take the smallest unit.

 

You can't play your not included

 

No!!! Dont buy a house in Cali. I live there and the whole state is going down hill. High taxes, fuel, regulations, crime, homeless, and Their letting everybody in!! Cali not a trucker friendly state.

 

Ok, if you need a house buy one with a modest price. Something that resells to a middle income family. If you dont need a house save your money. If your take home is 100 grand as a W2 employee you should stay there. Until you are full funded for retirement and or pay cash for house or truck. Now I dabble in some houses. I feel what is happening or about to hapen is gonna go like this. The generation younger than myself cant nor want the big homes that the baby boomers have poured their life savings into planning to profit from sale. They are a investment that normally appreciates, but your big investors didnt see 2008 ahead of time. In history we have never had the amount of first time home buyers carrying this much debt before buying a home.

This is speculation on my part. Long term houses will stay steady or increase. Still dont have the best return. But of you need a place to live it's a necessity.


Truck, well money pit that is going to depreciate sometimes faster than you can profit. Some years make you a pile of money. But the idea is to profit. To profit, it cost money. Nothing is free.


Need and Want are two different things!

 

house, house, house.....

 

cali is welfarist friendly state. get yote welfare and vote democratic*…