A lot of couples busy making money to just earn enough to pay their monthly mortgage payments (for a 15/30 years term). There is just very little money left for basic living needs after paying the big monthly mortgage payments.
Is it really worth scarifice the quality of life, just to own a house?
2007-01-17 15:30:02 · 5 answers · asked by Anonymous in Entertainment & Music ➔ Polls & Surveys
I didn't sacrifice anything, my company paid for my house, we had stock options that went sky high. also why pay rent and let some else get rich on your money.
2007-01-17 15:35:14 · answer #1 · answered by glasgow girl 6 · 0⤊ 0⤋
Yes because a home is an investment. And along the way through life not always but usually you will start to make more money as you get older. Wage increases and job promotions or changinig jobs. Yes taxes increase and insurance but your house payment will never go up. You will only be sacrificing for a bit. My wife at the time girlfriend back in 1990 bought a plain Laser because she could afford the payments just being a graduate nurse. A year later she was making almost $4 an hour more and wishes shed have bought the Laser R/S Turbo. But anyway the investment as well. Man TMI sorry hahha.
2007-01-17 15:37:27 · answer #2 · answered by powerliftingrules 5 · 0⤊ 0⤋
The decision to buy a home when it will cause you to have less recreational income is really a sacrifice made to have more recreational income in the future. If you don't refinance your home and you have a fixed rate mortgage the amount of your payments 25 years from now will be the same as they are today. Hopefully 25 years from now your income will be higher leaving more discretionary income. If you were to keep renting the rent will increase over that same 25 year period whereas your mortgage payment could stay the same.
2016-05-24 02:17:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Well they have to live somewhere. My mortgage is cheaper than any going rent in the area, so for me my quality of life improved when I became a homeowner instead of a renter. I had to move out of state to afford to buy, though.
I don't think living beyond your means is ever smart. Too many people get caught up in having to have a new vehicle every couple of years and all the gadgets. It just keeps them as slaves to jobs they probably hate. If you live under your means you alway have options. It is very empowering to know you could walk off the job and be okay financially for a few months.
2007-01-17 15:41:21 · answer #4 · answered by Anonymous · 2⤊ 0⤋
Absolutely not. I live in an area where real-estate prices have never really appreciated. We have a lot of land and plenty of cheap labor. They keep building new homes and "used" homes are just like cars (nobody wants them). I am renting because it's not worth buying.
2007-01-17 15:41:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋