Buying your first home?
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From: Livonia
Originally Posted by Heyitsgary,Oct 6 2004, 01:47 PM
As for the RENT comment and rebuttal. I don't think its as cut and dry. It depends on lifestyle, how 'free' you want to be, and how 'untied' to the market you want. Joe - I agree that with the market going up what seems to be daily, its difficult to lose money on a house, however, with closing, realtor, legal, etc... fees, it can happen. For plenty of people out there, renting is a very viable option. For many people out there, it is not a very viable option. **NOT STARTING ANOTHER TOPIC/THREAD HERE ---- It's like leasing vs. buying - Each is right for some people in some situation.
But what determines this is not based on educational decisions... it is based often on a lack there of... meaning that people really don't know what's best for themselves!
I appreciate everyone's reasons... but man... I meet SO many people that are only living in apartments, or rental properties merely because... they DON'T realize how EASY it is to own a home instead.
Yes... there is a certain sense of responsibility associated with home ownership. There is also a product out there for every neceessity. If you travel a lot, and maintenence is an issue- then go with a condominium. If you want privacy, but not the hassle... go with a detached condo... etc.
To dispute this on a generalized basis is kinda trite... but more often then not... the aformentioned is true...
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From: San Diego
Yes, but if you think of it as putting away money into a future by gaining equity it hurts much less. Speaking for myself, I have made about $500K equity in the last couple of years while "only" shelling out <$100K of my own money.
Sam
Sam
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