Do you own or rent your home?
Is your mortgage paid up, or are you ever-worried about the economic variances, a volatile market causes? Do you rent from your municipal government or a private landlord?
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iamonfire696 · 41-45, F
Moneyonmymind · 31-35, M
@iamonfire696 I’m curious how much was your home? I don’t think I’ll ever be able to afford a house
come2gether · 46-50, M
@Moneyonmymind you're in the Boston area, right? I think I've seen you mention that. It would be tough to get into a home in that area without a really high salary or 2 quite decent incomes. Especially for a first time buyer, unless you've managed to save a 100 grand
Moneyonmymind · 31-35, M
@come2gether I rent for now saving is tough enough as it is, as for my future home purchase it will most likely be out of Massachusetts, I hate how crowded and expensive it has gotten here
come2gether · 46-50, M
@Moneyonmymind yeah. Getting into your first home is the hardest part. After that, selling and moving and buying another gets much easier because you generally gain that equity windfall at closing, so you're ready for your next down payment.
iamonfire696 · 41-45, F
@Moneyonmymind I bought my house before houses were really expensive. You won’t believe this but I paid $41,500 for it.
It was 2 bedrooms 1 bath when I bought it. It now has a Master bedroom that’s the top floor of the house, 3 bedrooms and 2 and a half bathrooms. There’s also a rec room in the basement. Even with all the upgrades I only paid $78,000 but now it’s worth $255,000 when it was appraised 7 years ago and it’s worth more now.
It was 2 bedrooms 1 bath when I bought it. It now has a Master bedroom that’s the top floor of the house, 3 bedrooms and 2 and a half bathrooms. There’s also a rec room in the basement. Even with all the upgrades I only paid $78,000 but now it’s worth $255,000 when it was appraised 7 years ago and it’s worth more now.
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