5 ms·
I bought my first house in 1999. It costs less for the remaining mortgage than renting a 1br apartment in my city and has for about a decade. The interest is s
by justherefortart 8y ago
I bought my first house in 1999. It costs less for the remaining mortgage than renting a 1br apartment in my city and has for about a decade.
The interest is so low now I don't even get the write off and just use the standard deduction.
The house has more than doubled in "value" (based on comps) as well. I'd still have been paying the same money to rent, but it would have gone up an average of 5%/year.
The down side is I have had to pay to replace the roof, hot water tank, and HVAC, but that's all been recent fixes.
Not living in an apartment is also 1000x better.