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re: First time home buyer - need advice
Posted on 2/3/17 at 7:13 am to baldona
Posted on 2/3/17 at 7:13 am to baldona
quote:
You are only thinking short term. If you lock in a mortgage, you've locked in an expense for 15-30 years and then it drops to 1/3-1/2 once its paid off. Rent continues to go up.
I don't think you read my post very closely. The only thing that goes down over time is the cost of interest. Everything else will go up. The only time buying a house is a real investment/money move is if you are going to flip it. owning a home will throw away a ton of money no matter what.
2
Posted on 2/3/17 at 12:07 pm to notsince98
quote:
I don't think you read my post very closely. The only thing that goes down over time is the cost of interest. Everything else will go up. The only time buying a house is a real investment/money move is if you are going to flip it. owning a home will throw away a ton of money no matter what.
LOL, what? What about if you have a 15 year mortgage and pay your house off? You are telling me that its cheaper to rent than live in a paid off house? If you buy a house at age 30 and its paid off at age 45, you are telling me from 45 to death you are better off renting?
You are in over your head and need to stop if you honestly think long term you are better off renting than owning.
ETA: I'll give you this, there are plenty of bad ways to own a home and you are right its easy to waste money. But ultimately, the best potential money move is to own a home long term and pay it off in 15 years or less.
This post was edited on 2/3/17 at 12:10 pm
Posted on 2/3/17 at 1:23 pm to notsince98
quote:
I don't think you read my post very closely. The only thing that goes down over time is the cost of interest. Everything else will go up. The only time buying a house is a real investment/money move is if you are going to flip it. owning a home will throw away a ton of money no matter what.
bullshite. Land value can exponentially increase the value of property. Tear downs in Nashville are getting 600k and up for 1/2 acre lots. Just closed on a house built in 62' that owner paid 38k for. Sold for 560k.
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