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But you only put 20% down. Let's say your 100k house is now 200k. Your initial down payment is 20k. When you sell your getting much more than 8% compound inter
by cobookman 8y ago
But you only put 20% down.
Let's say your 100k house is now 200k. Your initial down payment is 20k. When you sell your getting much more than 8% compound interest
- austincheney 8y agoThere are 0 down loans.
- autokad 8y agothey also ignore the fact you are saving in rent, and you can also rent out your spare rooms (I did). My house was and still is very affordable and it was one of the best investments I have done. they are not mutually exclusive objectives once you consider everything.
- tootie 8y agoYou're also paying mortgage interest, taxes and maintenance costs. The formula isn't straightforward but owning a home is rarely a better strategy than renting and buying stocks.
- autokad 8y agoHomes appreciate on average 3-5%, where as the money saved on rent - taxes, interest, and maintenance is somewhere between 3-5%. that's 6-10% (which is about the best you can expect from stocks over the long run)+ the other benefits of owning a home. I for one rented 2/3 of my rooms for an additional 12k$/year income (60k over 5 years).