Should I invest in real estate despite having debts?

2024-07-11 13:33:01

I am facing a big decision and hope for your assessments. I still have debts, but the current interest rates for real estate loans are tempting low. Now I wonder if it wouldn't be wise to invest in a home despite my existing liabilities. On one hand, I could benefit from the low interest rates and save money in the long run, on the other hand, it could be risky to further increase my financial obligations. How do you see it? Have you had similar experiences yourself and can give me tips on how to best approach this situation?

2024-07-11 13:59:37

Do it, definitely.

No, seriously... who here is supposed to be able to give you an answer to that?
We don’t know how high your debts are, how high your monthly budget is, what expenses you have, how much money you have left over each month, what your living conditions are like, what kind of property it is, and at least 1,000 other points that could be crucial in order to assess the situation.

2024-07-11 14:41:31

I am facing a big decision and hope for your assessments. I still have debts, but the current interest rates for mortgages are attractively low. Now I am wondering whether it would be wise to invest in a home despite my existing liabilities. On the one hand, I could benefit from the low interest rates and save money in the long run, on the other hand, it could be risky to increase my financial obligations further. How do you see it? Have you had similar experiences and can give me tips on how to best handle this situation?

Let's talk about concrete numbers. Income, assets, debts.
That is exactly what the bank will do with you as well. If you earn 150k net and have a balance of 10k debt, you will also get a loan. If you earn 30k net and have 50k debt, you will be swept right out of the bank with a broom.

2024-07-12 08:07:59

are the debts from another mortgage loan? If not, you can almost forget it, unless you are a civil servant in the higher service.

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Should I invest in real estate despite having debts?

Brutus

DaGoodness

nordanney

Grundaus