Due to how the economy is, is it best to save up for a house or get a shed house like in the pic and put it on a land and fix it up like you want?

[Ginger1907]

Updates

+1 y

Well what could be a good idea someone in their 20s just starting off?

[DarkWinterNights]

I was fixing to buy my first house in 2020 and everything fell through with Covid. I was going to try again summer of 2021 and prices skyrocketed… keep waiting for a housing crash, but in waiting I’ve basically priced myself out of the market.
I’m trying to decide whether to buy some land and put a large live-in garage on it for a couple of years until building a house is feasible… or continue waiting. I’m middle-middle class and if I’m having such a difficult time, the price has to drop at some point… right?

[Ginger1907]

Well what could be a good idea someone in their 20s just starting off?

[DarkWinterNights]

Unfortunately it depends on where you live, how much you can afford and what you’re looking for. I definitely wouldn’t go crazy on anything because if and when a crash does happen you’ll be stuck in a high mortgage where you owe more than it’s worth. If you do buy something, pay attention to how much it’s gone for in the past.

I’m kind of in a holding pattern myself, so I can’t really advise you, but it might be worth sticking at home for a little longer and doing what you can to save.

[dustybiker]

Same.

[Guy13]

It depends where you are located. In my area, that unit would be equivalent to a mobile home. It could be a good eventual rental. I’m getting 1200 month for mobile home…a Pepsi can.
—Modular homes rent (1600-1900)…about same as comparable set foundational home.
—Anytime, you can avoid paying Rent, it is probably a good idea. 1.5 or double payment every month…

[Redhead999]

If you aren't paying rent all the better. Couples make the mistake of investing in a home they do not own basically paying another person's mortgage

[motownplayer2000]

I look at several options, you can buy and build. You can buy a built house (old fixer upper or newly built/refurbished), or you can do the RV life. If it was up to me I’d go the RV route. That’s just how I think I would be ok living for a while. My plan would be to buy property. Buy an RV and slowly build my house on the land the way I wanted it. That’s how I want to do it

[Ginger1907]

Well what could be a good idea someone in their 20s just starting off?

[motownplayer2000]

Don’t buy something that you can’t afford. Plan a budget. Stick to it. If you get approved for a house see what you can get and how much it will be. If it fits without a partner, do it. If not I would save. Or you can go the tiny house route. But that will set you back.. even the RV will set you back if you want to get a house sooner rather than later.

[Massageman]

Depends on where you are buying. Best deal now might be to buy a chunk of land (small farm, etc). , break it in lots to be developed, and sell them off to get the money to build a nice home on the remainder of the land. Places like Detroit, Chicago, Pittsburgh, etc. are losing people by the boatload. The majority are moving to warmer areas- typically Florida, Arizona, and a new booming area, Tennessee!

[exitseven]

A shed house is about as good an investment as a mobile home. It will not appreciate in value although the land yo buy might.

[Ginger1907]

Well my grandma was going to give me her land

[exitseven]

Sounds like a plan then.

[josephinelcajon]

Some areas are so restrictive like here in California it is impossible to do it.

[PhotonicElectrons]

If you are being given the land as you clarified later then pitch with the cheapest thing you can and save to built a better one.

[Jerre]

I think the shed house is the way to go in 2022. House prices have soared in the past 6 months.

[Ginger1907]

Wouldn't it cost even more to set it up and put walls in it and a tub and sink and etc?

[Jerre]

If it doesn’t have those items, it could be costly

[Anonymous]

Buy your own house. Even if prices drop, you'll always need somewhere to live.

[Ginger1907]

I live with my parents still. I have thought about getting a shed house to put on my family land but I feel like it may cost even more.

[jimmy2]

I think so prices are unbelievable. It's a bubble and it will deflat soon