3 ms·

Well, you need cashflow on a house in general. Even with a paid-off mortgage, I'm easily $10K/year and probably closer to $20K if I'm not pushing various stuff

by ghaff 2y ago

Well, you need cashflow on a house in general. Even with a paid-off mortgage, I'm easily $10K/year and probably closer to $20K if I'm not pushing various stuff off.

sokoloff 2y ago
Property tax alone is around $13K/yr for me. Insurance is another couple grand. Only after that comes wear and tear and maintenance items.
- herf 2y ago
  If you pay cash for a house and put 60% more in an annuity, you cover the total costs. Not cheap though.
  - ghaff 2y ago
    The point is that, however you finance it, owning a paid-for place will often have significant ongoing costs. Some more, some less.
  - phonon 2y ago
    Why would you forgo the mortgage interest tax deduction?
    - ghaff 2y ago
      For modestly-priced houses at least may not hit deductions these days.
    - sgerenser 2y ago
      2025 standard deduction is $30k for MFJ. Ain’t many people passing that mark these days in itemized deductions so the mortgage interest deduction is moot.