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re: How screwed am I by not putting down 20% on a home purchase?
Posted on 7/31/16 at 5:48 pm to WG_Dawg
Posted on 7/31/16 at 5:48 pm to WG_Dawg
baldona makes good points re: renting vs. buying.
That said, if you are going to buy and hold only for a short period, ARMs may be better than fixed rate (lower initial interest for first several years depending on the ARM).
Another expense of owning is maintenance is yours. The a/c breaks you can't call the landlord--you are him.
This is a topic worth discussing with an accountant to help you crunch the numbers and make a decision based on what's best for you.
There are intangibles about "owning" something, but if you are doing it strictly on an economic basis, crunching the numbers is the rational way to go.
That said, if you are going to buy and hold only for a short period, ARMs may be better than fixed rate (lower initial interest for first several years depending on the ARM).
Another expense of owning is maintenance is yours. The a/c breaks you can't call the landlord--you are him.
This is a topic worth discussing with an accountant to help you crunch the numbers and make a decision based on what's best for you.
There are intangibles about "owning" something, but if you are doing it strictly on an economic basis, crunching the numbers is the rational way to go.
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