3 ms·
Is that mortage cost in real terms? If interest rates are close to appreciation rate, you might break even in real terms (apart from tax/maintenance costs).
by tcbawo 9y ago
Is that mortage cost in real terms? If interest rates are close to appreciation rate, you might break even in real terms (apart from tax/maintenance costs).
- pleasecalllater 9y agoThat's what I saw in simulations for a 30 year mortgage shown by multiple banks. The amount of what I'd pay was twice the house cost. The interest rate was then around 3-4%, the appreciation rate about 2%, if I remember correctly. So generally 100% more is a lot. However after 30 years you can sell the house, and what you get is still much more than renting, when you get nothing at the end.