Quote:
Originally Posted by JSH
As redpoint said the key thing about owning over renting is that you lock in the largest part of your housing cost for decades. A mortgage is the equivalent of rent. Rent only goes one direction - up - relentlessly year after year. A 30 year fix mortgage is just that - fixed for 30 years and then the "rent" part of the monthly budget disappears forever.
Houses may or may not appreciate in value but the primary purpose of a house is shelter not an investment.
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True. But is there anything with waiting for the time being while things like kids growing up, parents getting old, and rent is still affordable at the place I live (coincidentally, a paid for mobile home on a rented lot in the cheapest trailer park in the county)?
When the kids are moved out and my parents are dead, then I can see moving somewhere else for the sake of locking in a fixed housing payment. I wonder if there are any places that sell one bedroom or studio apartment type homes for cheaper.
In Flint I found a few single bedroom places for $20k to $35k. Most were built in the 20's, but this one was built in 1955 according to Zillow:
https://www.zillow.com/homedetails/1...73936679_zpid/
It looks like a horrible place to live as an amateur radio operator though with those power lines right there.