UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: electrasmom Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309647  
Subject: Re: Owners, lenders, borrowers and where you liv Date: 9/19/2005 3:21 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
<The only advantage I've seen is that when owning a house you can equate the mortgage payment with the rent payment, and mortgage payments are fixed while rent payments only go up as the market goes up. Eventually I'll be priced out of the market, whereas if I "owned" (that is, had a mortgage) my monthly payment is gauranteed to not go up.>

Yes, your monthly payment may not go up but I bet your taxes do. So this year you may be paying $1000/month, but next year you may be paying more. Taxes almost always go up, not down. And don't necessarily stay constant. Plus repairs can be costly. New AC/furnace/coils can easily cost you $9000. (please don't ask how I know this). That doesn't count all the other things that can break --dishwasher, hot water heater, refrigerator.

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Post of the Day:
Saul's Investing Discussions

China's Stock Market: Like the Lottery?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.