What's it like being a home owner?

We all know that the cost of living is rising, pay is not, for the most part.

I worry about the increasing price of rent, especially while being single.

I'm wondering if I should start planning on buying a "fixer -upper" in the next few years since a monthly mortgage payment is cheaper than apartment rent.

I understand I'd have to get everything that breaks down, fixed in a house.

I'd have to pay property tax, and higher bills.

Any thoughts or advice?

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BizSuitStacy · M

Home loans are interest heavy up front. Look at amortization schedules and see how much goes to interest v principal. Note how much less interest you pay on a 15 year v 30 year mortgage.

The 3 keys to real estate... location, location, location are 110% true. At some point, you'll most certainly sell your home, and you want as much return on your investment as possible. So...sometimes it makes sense to rent, and sometimes it makes sense to buy.

Good school districts help boost value and marketability.

If you are handy, or have someone in your life who is, a fixer can be a good way to go.