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Buying a first home
Chris G:
--- Quote from: shardian on March 21, 2007, 12:58:41 pm ---I guess I'll just never understand you New Englanders and West Coasters. ::)
I make half as much as you guys, live in a house twice as big as yours, and pay a fraction of the mortage/taxes/interest/extras that you guys do.:)
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Ya, but...
--- Quote from: shardian on March 21, 2007, 10:02:54 am ---At least you all in big cities have a chance on CL. My CL in WV is a big joke!
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;D
jbox:
--- Quote from: shardian on March 21, 2007, 12:09:50 pm ---Believe it or not, you can make a point without being a complete ---sufferer of cranial-rectal-inversion---.
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Yeah, but that's not as much fun for me though! I mean, this isn't global warming, terrorism, religion or a dozen other topics people can actually debate because it's hard to know who is right. This is just math, and people who are *proudly* wilfully ignorant about maths make me want to rethink my entire philosophy against late term abortions (like 90 trimesters late for example). :hissy:
Wade:
--- Quote from: AtomSmasher on March 21, 2007, 01:37:33 pm ---
--- Quote from: shardian on March 21, 2007, 12:43:00 pm ---I don't see how you can save $6000 in actual taxes just from the house. That is just crazy.
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I paid close to $18000 in mortgage interest and property taxes last year, which includes the amount paid to buy down the interest rate (I get to write that off too :) ). But this year it will be closer to $25,000 since I didn't own the house for most of last year. I also have a home office which makes the tax break even bigger. If your wondering, my mortagage payment is a little over $1800/mo. and my last apartment which was around 600 sqft. smaller then my house and was inferior to my house in every way except location had a payment of around $1700/mo.
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So, you're happy to pay $25k in interest/tax each year? How much goes towards your principal, a thousand or two? Is it an AR or a balloon payment?
Wade
AtomSmasher:
--- Quote from: Wade on March 21, 2007, 02:10:21 pm ---So, you're happy to pay $25k in interest/tax each year? How much goes towards your principal, a thousand or two? Is it an AR or a balloon payment?
Wade
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Its better then paying $25k in rent each year. And no, its not an AR or balloon payment. Every time you have a long term loan, you pay very little of the loan off in the first few years, its almost all interest. As time goes on and you're slowly paying off the principle, so each month you pay more of the principal off and less interest (since the principle is less, the interest is less, but your payments are the same).
--- Quote from: jbox on March 21, 2007, 02:01:48 pm ---
--- Quote from: shardian on March 21, 2007, 12:09:50 pm ---Believe it or not, you can make a point without being a complete ---sufferer of cranial-rectal-inversion---.
--- End quote ---
Yeah, but that's not as much fun for me though! I mean, this isn't global warming, terrorism, religion or a dozen other topics people can actually debate because it's hard to know who is right. This is just math, and people who are *proudly* wilfully ignorant about maths make me want to rethink my entire philosophy against late term abortions (like 90 trimesters late for example). :hissy:
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So your saying you might want to kill yourself? Because it seems that it was your math that was wrong, not mine. I just didn't show you my work so you assumed I cheated :P
shmokes:
Math is difficult. Some people are really good at painting. Others are good at analytical reasoning. Others are good at music. Others spacial reasoning. I'm pretty decent with math, though I don't enjoy it and tend to avoid it. It sounds like information I'd be really interested in, but I don't entirely understand the formula. What is a buy ratio? Do you come up with a number like 65/100 that you should by a house, or the probability that you should buy versus rent is .65? You can't expect a French and Poli Sci major to be especially brilliant in economics and finance.
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