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No, you don't get to live in "your" house rent free. About 3% of the house value per year goes to property taxes, repairs, utility bills, grass lawn maintenance
by akomtu 6y ago
No, you don't get to live in "your" house rent free. About 3% of the house value per year goes to property taxes, repairs, utility bills, grass lawn maintenance, hoa dues, insurance and so on. A paid off house is like a brokerage account with insane fees and liability.
- jjav 6y agoThe cost of owning a house needs to always be compared to the alternative. By owning, the principal+interest payment disappears when it is paid off. Sure you continue paying other expenses. If you rent, you pay the full and increasing market rate, forever.