Eh, I bought a $142K house and my property taxes plus homeowner’s insurance come to $4800 a year, which is $400 a month. What’s insane is the condominiums in my district – over $200K for a 2BR 1BA and you pay the larger property taxes and insurance and you pay condo fees of $800 to $900 a month, and cross your fingers that you don’t get hit with any special assessments. You’re basically paying $1600 a month to rent your own home.
Easy. Just buy a house cash and never pay rent or make mortgage payments. Simple.
Doesn’t your family trust employ people that just take care of that for you?
Only until I accidentally give them a sock.
This is legitimately advice my aunt told me. I must have looked at her like she had 3 heads.
It’s honestly great advice…if you happen to have ~$500k laying around.
Landlords don’t want you to know this one simple trick.
I did exactly this. I only had to save up for … 35 years.
Got my own place at 35 as well. My parents bought their first place in central London (although admittedly it was a dump by all accounts) at 19.
Lol I meant 35 years … starting at age 21.
But pay property taxes (and sometimes HOA fees) forever
And be responsible for fixing & replacing appliances, AC, heating, pipes, electrical, etc
Eh, I bought a $142K house and my property taxes plus homeowner’s insurance come to $4800 a year, which is $400 a month. What’s insane is the condominiums in my district – over $200K for a 2BR 1BA and you pay the larger property taxes and insurance and you pay condo fees of $800 to $900 a month, and cross your fingers that you don’t get hit with any special assessments. You’re basically paying $1600 a month to rent your own home.
Which is factored into the cost of rent, along with repair costs and more.
Mind if I crash on your couch for a few decades while I get the cash together?