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This is silly. Buying a house is making a calculated risk that you will stay in one area. While it will cost money in the short run, rent (in most places) trac
by ebiester 10y ago
This is silly.
Buying a house is making a calculated risk that you will stay in one area. While it will cost money in the short run, rent (in most places) tracks with inflation but a mortgage doesn't.
Now, it doesn't make sense to keep moving/upgrading every 5 years. If you do that (as I have over the last decade), don't buy a house.
- mywittyname 10y agoMaintenance costs and taxes also track inflation (taxes will often exceed inflation). It's quite possible to spend more than the purchase cost of a home in renovations and maintenance before a 30 year mortgage is paid off.