Quote:
Originally Posted by xxweekxx
its not that expensive.. my sister has a house in TN, cost her around $135k, her taxes are like $1k/yr, insurance a few hundred a yr.. maintenance $0 so far in a year.. its not like people make it out to be..
Heres my question: if say you work 9-5, and you can afford $1,500 on living.. are you better off getting a house and using that 1.5k for mortgage, or are you better off spending that $1.5k on rent..
This is a good scenario because thats where majority of americans fit in..
in my scenario, you'll see its a much much better idea to buy given those circumstances
at least from your $1.5k mortgage, a good chunk goes towards your house, so lets say $500 is interest, then the other $1000 is "your" money... while in the rental scenario, the $1.5k is going towards nothing, same thing as going into a club and buying 5 bottles and pissing it away.. you dont get anything in the long term
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Maintenance is $0 until one day roof needs replacing, and you are out of 5 grand to replace it... or old pipe bursts and it costs you an arm and leg to repair the damage... it's fun to theorize on gfy, but it's a bitch when real world sets in, something breaks and all of a sudden you are stuck with a huge bill...
for you it may make sense, but it's not for everyone, many people underestimate the costs of owning a house... one problem and they spiral downwards into debt...