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This seems like such a basic idea to me, why don't more people do it? There must be a reason. Any help?
Starter houses are no longer a good investment as real estate is no longer a money maker, it is a place to live long term.
originally posted by: FinalCountdown
It's as pretty simple as this:
After 5 years of renting you would have spent around $35,000.
After 5 years of paying that as a mortgage you could sell and would have at least broken even. As in spent nothing for the past 5 years.
originally posted by: Schmidt1989
originally posted by: FinalCountdown
It's as pretty simple as this:
After 5 years of renting you would have spent around $35,000.
After 5 years of paying that as a mortgage you could sell and would have at least broken even. As in spent nothing for the past 5 years.
That's exactly my point. It's too easy. Why don't more people do it?
In 2014, homeownership dropped to a lower rate than it was in 1994, with a rate of 64%