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Message
re: Home ownership losing importance as "American Dream"
Posted on 6/4/14 at 12:53 pm to MMauler
Posted on 6/4/14 at 12:53 pm to MMauler
quote:
That's not even going to come close to the equity you'll build up in your home over time.
On average you will spend 1% of your home value per year on repairs and maintenance. Go put that in a retirement calculator and tell me you cannot build up some savings with that. Then on top of that add to it amounts spent on remodeling which is very expensive and necessary if you expect to protect your equity.
1
Posted on 6/4/14 at 1:12 pm to lsu13lsu
quote:
On average you will spend 1% of your home value per year on repairs and maintenance. Go put that in a retirement calculator and tell me you cannot build up some savings with that.
1% of my home value is less than the savings I receive in a year when comparing my monthly mortgage/tax payments to what monthly rent would be (it's about a $400 difference per month).
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