Owning a house :
Poll - Total Votes: 33
Yes, buy it
No, just rent it
Um.. i'm not sure about this
You can only vote on one answer.
22-25, F
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BrewCityBarfly · M
So, speaking from the view of someone who has never rented; depends. If you are somewhat handy, and able to afford a certain amount for repairs and updating, go for it. Even a turn key is likely to have problems, and many critical systems (HVAC, Hot Water, roof) realistically have a ~15 year life span. In addition, the kitschy stuff today is going to be looked at as outdated in the future.
If you're in the market for a house that needs updating, make sure you can afford the time, effort, and money to renovate and be prepared for disaster.
If you're in the market for a house that needs updating, make sure you can afford the time, effort, and money to renovate and be prepared for disaster.
Spoiledbrat · F
@BrewCityBarfly You can always refinance.
BrewCityBarfly · M
@Spoiledbrat That can work okay if you're getting a lower rate. Buy now, and hope that the rates come down, and can use the extra equity $$ to pay off debt or home improvements. Or, just get a HELOC.
Here's the catch, I did that prior, and it seemed I was on a principal hamster's wheel. I joked that after 10 years I still owed the original amount of the mortgage.
Here's the catch, I did that prior, and it seemed I was on a principal hamster's wheel. I joked that after 10 years I still owed the original amount of the mortgage.