rent
rent
Out of context: Reply #14
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- d_rek0
$550/mortgage payment. Michigan, USA.
Why rent when you own a home for a fraction of the price?
Oh, what's that - you're worried about mobility? Rent the place out! You know how many people are throwing cash at rental properties right now? Great way to continue building equity too.
- Because owning a home costs so much upfront it's an impossibility for most. Plus, that doesn't hold true in NYC.monospaced
- also, mortgage ≠ rentmonospaced
- It doesn't have to. I had 103% of the cost of home covered, which covered almost all of my closing costs/fees.d_rek
- But your right, it varies region to region.d_rek
- You had 103% of the cost covered? If that's the case, you shouldn't have any mortgage.monospaced
- If I want to buy a place, it would be $100,000 down and then $3,000 a month in NYC.monospaced
- I was able to borrow upto 103% of the cost of the home so I didn't have to pay much out of pocket.d_rek
- why didn't you pay for 100% of the home then!?!?monospaced
- and that's how the US housing crisis happened... giving out 103% mortgage deals.goldieboy
- You guys have no idea what i'm talking about.d_rek
- $550 a month....fuck thats cheap as ass
marychain