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I understand the house is not the best investment, but you HAVE to live somewhere. When I bought my first house I put some money down, and did a 20 year mortgage. The monthly payment was about the same as renting a small house or nice apartment, $375 per month. In fact when I got married I rented the house and made a little money. When I sold the house I had some real equity that we rolled into our current house. We had a 15 year note on our current house and it is now paid for.
If I had just paid rent I would have just lost all that equity I built owning a mortgage. I had a house that I could use as I saw fit. And the payment was never going to go up like rent does.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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