Quote:
Originally Posted by Isaac Zachary
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. |
I specifically picked a place you might actually want to live . In Flint the West and South side of town is the "good" part of town. The North and East side are the "bad" part of town. Looking a grid of house prices on Zillow the lines are easy to see.
Quote:
Originally Posted by Isaac Zachary
I'm with JSH on this one. Unless I or my wife live to be more than 80 and we are able to pay off the house without foreclosing then there is no real benefit if we stop spending on rent with the exception of price locking. Having an asset that potentially wasn't fully paid for when you're dead is not an asset.
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A house that isn't paid off is an asset. If you died owning a $300K house with a $100K mortgage your kids would inherit $200K when the house is sold.
Selling mom and dad's house at their death is the most common way wealth is transferred between generations in the USA.