So you should throw money away in rent rather than invest it in your own equity. No thanks.
“So you should throw money away in rent rather than invest it in your own equity. No thanks.”
Absolutely right. I had $1600 month mortgage on a house I bought at $220K. I paid it off early and now I pocket the mortgage payment. Meanwhile the house is three times the original value. I am currently using my money to build wealth, and I also have excellent equity. Why would I NOT want to buy a house, especially when rent is twice what I was paying on a mortgage for a larger place? I agree with Like post #3…it’s like his opinion man…
+1
IMHO - the problem many home buyers have is that they strap themselves with a mortgage that's too high leaving them little money for other things. My wife and I have bought 4 homes in our lifetime, each one being a little more expensive than the last. In each case, we could have bought a much more expensive home. We've not had a mortgage for over 25 years and live comfortably - not extravagantly. The advice we've given our kids is advice we've lived by. "Live below your means".
"... the borrower is slave to the lender." - Proverbs 22:7