should i even buy one at all?
2006-11-23 00:05:29 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Think about your retirement years. Having a paid off mortgage means no more rental payments of $500 to whatever per month which is money that can go to food, travel, or whatever you choose. There are many tax advantages to home ownership. Seriously think about buying a home of your own because you will need a place to live for the rest of your life. Try to pay that mortgage off as soon as you can so that you need to only worry about taxes and insurance. That home can be passed on to your children, sold, rented out, or whatever you choose to do with it.
2006-11-23 00:36:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
A pro will convince you to buy that which is truly good for you.
A con will convince you to buy that which is truly good for the con.
Buying the right house for you is a good thing. Buying the wrong house for you can be a really bad thing.
Find a Realtor who you can trust. Help them to get to know you and what your needs are. Too many people wrongly think that a Realtor is just a glorified taxi driver with a key to the house..... well, I guess that some really are, but a good one is much more than that - if you allow them to be.
2006-11-23 10:02:03 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
Look at it in the simplest terms. People rent houses and apartments to make money. Do YOU ant to be the source of their money??? When you buy, you build your own investment. Instead of helping someone else get rich, you are helping yourself get rich... or at least save some money for yourself if not get rich!! The con side, there is some risk in buying, the degree of risk depends on many things... too many to list here. But if you consider the alternative, there is no risk... it is a definite thing that you are throwing money away and all you are getting in return is a place to live!!
2006-11-23 08:20:48 · answer #3 · answered by tmarschall 3 · 0⤊ 0⤋
Pro's - great tax write off, enjoy appreciation of property over time, can pull equity out for other investments, no capital gain tax if held for 2 years up to 500k
Con's- affordability of housing, if you overpay and need to sell you may not be able to sell at the right price in a short period of time, not a liquid asset
2006-11-23 13:36:00 · answer #4 · answered by tianaramal 4 · 0⤊ 0⤋
Er hello? It's an investment, the best one you will get at the moment. I put £10k in a bond and I will get about £300 in interest in a year! Whoopee! Is it worth it?!
2006-11-23 08:14:47 · answer #5 · answered by hornyheluk 2 · 0⤊ 0⤋
just cons
2006-11-23 08:16:46 · answer #6 · answered by alireza j 3 · 0⤊ 0⤋