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|05-07-2013, 08:18 AM||#11 (permalink)|
MCBs armed pacifist
Join Date: Jun 2009
Location: West Michigan
If you are confident in your stability and in a position where you do not think you would need to or want to move for some time then a house is a good idea. As you note building equity has a value.
HOWEVER - its with the caveat that you are not going to be hunting for jobs outside of the area or asked to relocate. Houses are not a liquid assett - they seldom sell at value quickly. If you are going to be in the position of trying to make a mortgage and rent payment because you moved to get your next job then you are going to be negotiating from a weak position and unlikely to get full value.
"In the essentials: unity; in the non-essentials: liberty; in all things: love" - often incorrectly attributed to Augustine or John Wesley - original source in question
"Use peaceful means where they are appropriate; but where they are not appropriate, do not hesitate to resort to more forceful - Thupten Gyatso (the Dalai Lama, 1932)
"It is not the will to win that matters - everyone has that. It's the will to prepare to win that matters" Coach Paul 'Bear' Bryant.
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|05-07-2013, 08:49 AM||#12 (permalink)|
Join Date: Jul 2009
Location: Winston Salem, NC
A home is a great investment if you're stable. Like others have said, if you can see yourself not moving for at least 5 years, buy a home. Remember, apartments are luxury. The luxury is you can pack up your stuff and leave with a 30 day notice most of the time and not have to worry about that overhead anymore.
I personally bought a home last year and it was a great investment. I went from paying $750 a month for a 1 bedroom 800 sq foot apartment to paying $685 a month for a 3 bedroom 2 bath 1400 sq foot home with a garage.
|05-07-2013, 10:15 AM||#13 (permalink)|
I lika doa the cha cha
Join Date: May 2011
|05-07-2013, 10:17 AM||#14 (permalink)|
Join Date: Apr 2006
Location: Hudson, NH
I would be paying about $1300 a month for a cheap house around here. Maybe I'm living in the wrong place
I was looking into buying a house, but decided to stick with renting for now. $675 a month and I never have to pay for heat. The $675 a month isn't building towards paying off anything, but it's saving me money each month to build up some $$.
|05-08-2013, 06:09 PM||#18 (permalink)|
Join Date: Dec 2009
Location: Kiwi in Oz.
Nope, Oz/Aussie/Australia/Straya!. To be more exact Sydney, one of the most expensive housing markets in the world. Housing/Living costs are a little extreme after the cheapness of Memphis.
Last edited by moonweasel; 05-09-2013 at 03:47 AM.
|05-09-2013, 12:29 AM||#19 (permalink)|
Join Date: Nov 2011
Location: Kansas-Flint hills
I just bought a house in Wamego, KS a year ago. I love it. But good or bad, it's your problem if anything goes wrong. If your handy you can build some serious equity with just a little elbow grease.
What you must know is how man reacts. Weapons change but [the] man who uses them changes not at all. To win battles you do not beat weapons – you beat the soul of man, of the enemy man. (George Patton)