Its so much better then renting owning your own house and you have something to show for.
Most Helpful Girl
Most Helpful Guy
I own my own home, property taxes are about 1200 dollars U. S. It's the insurance that gets me, it's somewhere about 3000 a year for both flood and hazard insurance. Funny thing is I live in a hundred year flood zone and there never been a flood in a 100+ years. The other thing is maintenance and up keep, brick is best in choice for exterior. My suggestion would be to go for a repossession property and fix it up to rent out to others, you could pull in about a few hundred in extra income. If you took no income from it in 5 years and paid it off, the total amount after it's been paid for that you bring in is yours to keep and can be used in lew of your regular income to pay for a house that you do want to live in. An asset is something that puts money in your pocket and a liability is something that takes it out of your pocket, it's a scam when you are told that owning a home is your biggest asset, when it's most likely your biggest up front liability for 30 years with a mortgage. If I knew this at age 24 when I bought my first home, I'd probably have 4 to 5 homes bring an average of 1000 dollars U. S. income every month, and I could be retired now If I wanted to. Just food for thought.1
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