4 ms·

When we rented, anytime the market shifted, the landlords raised rents on us. It was hell. I was paying more than what a mortgage was. When I bought, all that

When we rented, anytime the market shifted, the landlords raised rents on us. It was hell. I was paying more than what a mortgage was. When I bought, all that went away. We bought a nice house that didn't need immediate work done. My mortgage was below rental rates. So my point is that it takes a little insight when buying a house, but if rents are expected to go up (which are expected almost always), then it's a wise decision long term. Yes, house maintenance needs to be factored in, but those costs are amortized over long-term.

monkmartinez 3y ago
Have you factored in property taxes, impact fees if any, landscaping, HOA fees if any, school district fees/changes/bonds, fire protection fees/bonds/changes, Home owners insurance, sewer or water treatment bonds/fees/changes, utility bonds/fees/changes, and more? Have you factored in a terrible neighbor? A halfway house or care home next door? Rent may be going up or down or sideways... you have the option to move if you don't like it. I could realistically move in less than a week and I have a full blown wood shop in my rental garage, two teenagers, wife and a dog. It would be messy, but we could do it with basically zero consequences. If you care about your credit score, you are not going to just walk away from your mortgage. We can jam out of here if the wind blows a direction we don't care for. With all three cars paid off, I truly have zero debt. A few of my friends tell me they have "zero debt except for the mortgage"... I am like that is a giant ball and chain around your neck broham... Nothing about that says "debt free" or "freedom."
- adamredwoods 3y ago
  >> I am like that is a giant ball and chain around your neck broham... Nothing about that says "debt free" or "freedom. Mortgage debt is not a concern, houses can be sold on a market. If you feel that having no mortgage empowers you, then that's great for you! I don't think this "fear" applies to everyone. Debt can be used very strategically.
- ghusto 3y ago
  > Have you factored in property taxes, impact fees if any, landscaping, HOA fees if any, school district fees/changes/bonds, fire protection fees/bonds/changes, Home owners insurance, sewer or water treatment bonds/fees/changes, utility bonds/fees/changes, and more? All this leads me to believe the situation is very different in America. I'm not even sure what any of that means. Here in Europe you buy a house, pay interest on the mortgage, and that's about it.

monkmartinez 3y ago

Have you factored in property taxes, impact fees if any, landscaping, HOA fees if any, school district fees/changes/bonds, fire protection fees/bonds/changes, Home owners insurance, sewer or water treatment bonds/fees/changes, utility bonds/fees/changes, and more? Have you factored in a terrible neighbor? A halfway house or care home next door? Rent may be going up or down or sideways... you have the option to move if you don't like it. I could realistically move in less than a week and I have a full blown wood shop in my rental garage, two teenagers, wife and a dog. It would be messy, but we could do it with basically zero consequences. If you care about your credit score, you are not going to just walk away from your mortgage. We can jam out of here if the wind blows a direction we don't care for. With all three cars paid off, I truly have zero debt. A few of my friends tell me they have "zero debt except for the mortgage"... I am like that is a giant ball and chain around your neck broham... Nothing about that says "debt free" or "freedom."

adamredwoods 3y ago
>> I am like that is a giant ball and chain around your neck broham... Nothing about that says "debt free" or "freedom. Mortgage debt is not a concern, houses can be sold on a market. If you feel that having no mortgage empowers you, then that's great for you! I don't think this "fear" applies to everyone. Debt can be used very strategically.
ghusto 3y ago
> Have you factored in property taxes, impact fees if any, landscaping, HOA fees if any, school district fees/changes/bonds, fire protection fees/bonds/changes, Home owners insurance, sewer or water treatment bonds/fees/changes, utility bonds/fees/changes, and more? All this leads me to believe the situation is very different in America. I'm not even sure what any of that means. Here in Europe you buy a house, pay interest on the mortgage, and that's about it.