3 ms·
Good on you! Your first house is a only a hedge, no point paying more insurance than you need to. There is no advantage to property price rises if you only own
by meric 14y ago
Good on you! Your first house is a only a hedge, no point paying more insurance than you need to. There is no advantage to property price rises if you only own one house, therefore, there is no point buying a house bigger than you need, if you plan to live in it for the long term.
- throwaway1979 14y agoTwo of our friends just bought starter homes in Westchester NY (for around 400k). If I were to buy a house like that for cash, it would take me quite a while to save up that much lucre. That said, I think low interest rates were a big motivator to my friends. When interest rates are so low, keeping liquid savings doesn't seem to make sense.