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Buying a first home

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DrewKaree:

--- Quote from: ChadTower on March 21, 2007, 03:39:17 pm ---
Down in Oz can't you just put up a lean-to anywhere you want?

--- End quote ---

I think you have to go out in the bush to do something like that, demonstrating that even in Australia, BUSH WINS!

Wade:

--- Quote from: AtomSmasher on March 21, 2007, 03:04:16 pm ---I guess that means buying house was a good thing for me.  Even if there are other expenses to owning a house (which there are), I will still come out ahead, or at least even, and I get the benefits of living in a decent sized house instead of a small apartment.  And since the value of my house should be increasing soon (I'm a real estate appraiser, so I keep a close watch on the market and its trends), it makes my house a good investment as well.

--- End quote ---

Well, in your case, you are actually paying less each month now that you bought a house.  So in that sense, it was a good move.  It's unfortunate that housing is so expensive in your area (or, you demand a very nice apartment!)  It's not all about money available each month though, otherwise a person would be better of leasing a new vehicle every year or two.  Obviously, buying a house or car are better ideas the longer you stay with them, in general.  (my opinion)

Wade

shardian:
If you are modest in your purchase, then almost always a house payment will be less than rent (assuming rent does not include utilities).

However, buying a house ties you down and when it comes time to move you will almost certainly be stuck paying your house payment for a while on top of your new rent/mortgage payment. Alot of people cannot handle this financial burden, especially with the housing market down. It may be months before you can sell the house.

shardian:
And Wade, you better be careful. Multiple posts in one day...you might become a worthless forum junkie like the rest of us. ;)

DrewKaree:

--- Quote from: shardian on March 21, 2007, 04:47:29 pm ---And Wade, you better be careful. Multiple posts in one day...you might become a worthless forum junkie like the rest of us. ;)

--- End quote ---

I am NOT a...uh....um... welcome Wade :dunno

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