Celebrate?I own my place in the country. Small bungalow with a few acres. Problem, GF says she can't live there, basically house too small. What do I do?
Celebrate?I own my place in the country. Small bungalow with a few acres. Problem, GF says she can't live there, basically house too small. What do I do?
More a forced savings than "investments". At most this should stop people dig the hole, aka spend like crazy deeper.A mortgage is a long term investment where after paid off, you have something to show for it and can sell if needed.
So much investment appreciation hype when the rate of return in the long run is no better than barely match the inflation rate.An investment that appreciates in value with time....
That's true.Still better than throwing away money on rent!...
Don't worry about it, some would say the Americans are learning to "speak Japanese" fast down the road.And if you tell me property value will always go up in long run, just take a look at Japan. In the last 15 years, the property values have stayed flat. Most Japanese would have been better off renting than owning during this time period.
And it could very well be money laundering.Vancouver is definately overvalued, anyone thinking about BUYING houses in vancouver must be rich enough to throw away a couple of hundred grands.
Plus you live rent free once the mortgage is paid off.I have owned my home for 32 years. Wouldn't have it any other way.
I do the same and agree. I also want to be able to leave whenever I want to. Paying a morgtage keeps you stuck where you are unless you sell.Owning vs Renting each has its own "pros and cons". I rent and love it. No property taxes or utilities to pay. No need to renovate anything. Anything that breaks, I call my landlord. Many of my friends are house rich but cash poor. They live pay check to pay check just to pay the mortgage. I know that many may believe that renting is a waste of money, since I don't have any equity, but I have been able to save money while renting, which I know I wouldn't be able to if I had a house and mortgage. Just my two cents.
Is your mortgage paid off?You aren't a man until you own your own home and you've got a barbeque grill on your deck.
another blind assumption that property prices will go up forever...Every year my mortgage principal goes down and my house value goes up. When I retire I get to sell my house and keep all the profits without paying taxes. That's why people who can afford choose to buy their house instead of renting because they end up better in the long term. It's not rocket science...
That's not saying much when the average cost of a house in Buffalo equals the cost of a used Bimmer...lol. Try affording a haus in T.O.Happily have owned my homes for over the past 30 yrs and wouldn't have it any other way.....