What's your Age...And what you drive?

[piku]

Homeownership makes sense. period.

Especially now when interest rates are in the 3's and prices probably won't go too much lower. The important things to consider are how long you plan to stay and how easy the house will be to sell. The most important thing is your interest rate and nit picking on price $10k-20K is silly. If you buy a $300K home and you get a 30 year loan, you're going to pay something like $300K in interest. This number matters SO much more than purchase price. That's why it's insane that the market isn't hopping right now due to low interest rates. Worries that the home you buy might drop 5% are INSANE when you compare the relative costs. Our house fell in value probably $30K since we bought it, but we would be more screwed if we had a 7% interest rate which we don't.

Anyway, all you have to do is enter your mortgage info into a mortgage calculator. It will tell you how much every month of your money is going to interest and how much is going to principal. What you need to consider is the interest price for X years you stay versus rent for a similar home. I've never found a scenario where renting is cheaper than the price of the interest on the loan. - When you sell you get the principal back as equity.

There are other expenses like homeowners insurance and repairs, but if you buy smart you'll still end up on top and won't have to deal with rent increases - instead as the years go by more and more of your money will go to principal which is like making your housing cheaper. Plus in a normal market the house price will appreciate which will return even more in the sale.

Jpalamar has one of the only two good arguments against homeownership:

* Homeownership generally means lawn maintenance, repairs, renovations, and other headaches and generally a large time investment.

The other argument is that you have to sell it. Cleaning and staging a house is *not* easy.

[mg23]

23 08 nissan 350z moved outta my rents house right after graduating college

[boostedfury]

25 and a 99 corvette

[OutToWinPAHC]

Homes are great when the buy is right, I currently own 2 and am closing one the third. The last two are paid for in cash thank god, buying up short sales

[2g Talon]

How in the hell ... ****, give me one of em lol

Sent from my SGH-T999 using Tapatalk 2

[AWD GS]

Originally Posted by 2g Talon

How in the hell ... ****, give me one of em lol

Sent from my SGH-T999 using Tapatalk 2

once you get older you realize the benefits of saving and paying things off instead of dumping money into a car first but everyone does it when their younger lol

[Gari]

I am 22 years old.
At 18 i have a bike to ride,
Now i recently bought 2012 Ford Taurus , so this is my and my brother ride now a days, my bro is of 25.

[russiankid]

Originally Posted by AWD GS

once you get older you realize the benefits of saving and paying things off instead of dumping money into a car first but everyone does it when their younger lol

This. When I was 18 or so I dropped a lot of money into cars, now I only put a slight amount in one and it is brand new so don't need to worry about it. Saving the rest of my money because I recently had an incident where saving money before hand actually helped me out.

[BlackTT]

I'm 24 years old (Will be 25 next month) and I drive a 2000 Audi TT, and my Fiance's 98' Subaru Impreza RS <3

[tigasTT]

25 2012 wrx

[Omar_MSP]

26, still got my MSP

[omgjacki]

23, 2012 Mazda 3

[agencyone0one]

Originally Posted by omgjacki

23, 2012 Mazda 3

Well played.

I'm 24 and I am currently paying on a 2012 Mazda 3, however I have a company paid Ford Escape I'll be driving around until my new company car comes in.

[Subaru_Steve]

23 2004 wrx