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re: The Odeon, tallest building constructed in NOLA in 3 decades, to open next month
Posted on 10/1/20 at 6:44 pm to TexasTiger08
Posted on 10/1/20 at 6:44 pm to TexasTiger08
quote:
I can get a 2500 square foot house where I live and have a mortgage for about that price. I don’t know much about the NO area’s housing market, but this just seems like a way for a rich person to waste some money.
If you are in the market for a starter home (3BR/2+BA), it makes more sense to buy. The amount you pay for your monthly note, insurance, taxes, and utilities ends up being just a little more than the average rental (of course, fewer bedrooms/baths). It got to a point where me and my wife broke down our yearly expenditures on rent, and told ourselves, we might as well put money into some equity if we can afford it.
This post was edited on 10/1/20 at 6:45 pm
Posted on 10/1/20 at 6:47 pm to brewhan davey
quote:
It got to a point where me and my wife broke down our yearly expenditures on rent, and told ourselves, we might as well put money into some equity if we can afford it.
Definitely. I’ll take having an asset at the end of the day over renting for years on end. If you buy smart, you will be able to sell when it’s time to move on, and recoup some serious money. I couldn’t imagine living in a place like that long term and pouring money into rent. That, of course, goes for apartments and not a townhome or something you take ownership in.
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