Quote:
Originally posted by berettafan
No, it isn't misleading.
Tell you what, you rent for the next 20yrs and i'll own. After 20yrs i will have r/e taxes and insurance to pay. The rest can go towards a GT3RS, track time and a built in lift in my garage. You, on the other hand, will still be paying rent to 'the man'.
Oh, and my son will have something to inherit other than funeral expenses.
Oh again, i won't have to worry about a landlord deciding to sell and leaving me looking for a home to rent.
Oh and i might just say ef' it when the final payment is made and greet people at walmart as my retirement job.
Mind you, i am operating under the assumption that my mortgage cost, net of tax benefit, is comparable to your rent cost. The rent you are paying builds -0- equity. The mortgage i am paying builds something greater than -0-. There is no opportunity cost given those assumptions so it's a pretty simple scenario to examine.
|
I agree with everything you said above.. I would rather own a home than rent. I guess I didnt do a good enough of a job explaining my other post about your home not being a good investment... I was trying to make a point that it's not a good investment from a point a view that yo ucan realize a gain and bank your profit...it's not like a business where you post net profit, etc..