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One thing I keep telling people is that buying a house really won't save you money in the long run. I only bought a house for the space, me and my wife both wor
by gg2488 7y ago
One thing I keep telling people is that buying a house really won't save you money in the long run. I only bought a house for the space, me and my wife both work from home in the midwest and need the office space.
You'll spend more than you realize on upkeep, furnishings and the increase cost of utilities. My opinion is If you really want to save money, find a cheap cost of living area and rent. Only buy a house if you need the space and know that you'll be staying in that area for 10ish years.
- dinkleberg 7y agoI get where you are coming from, and the cost of upkeep can certainly be high, especially on older homes. But surely the cost of (apartment rent + other associated costs) * however many months is going to be higher than (cost of house + interest from mortgage + upkeep + increased utilities) - (eventual price you sell it for) The apartment situation you will always be negative, whereas even if you only end up selling your house for the same price you bought it at, you've only paid for interest + upkeep + utilities. The interest + upkeep are certainly not insignificant, but when your rent is as high as the mortgage cost, surely buying has got to be the better option over the longterm. But maybe I'm just fooling myself.