Quote:
Originally Posted by redpoint5
If I were single, I'd be living in a high-end 6 bedroom estate with 5 roommates paying the mortgage, insurance, and upkeep.
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I tried figuring how to do that kind of thing in the town where I live now. I'd have to move because the rental market is actually much cheaper than the mortgage market.
I was looking at a duplex for sale, but the current tenant in one half was paying about 1/4 what the total monthly mortgage payment would have been.
If you have your heart set on buying a piece of property here, it would actually be cheaper to get a single-family sized unit to put only you and your family in than to try to buy something to rent part or all of it out.
And, at the moment, it's even better financial advice here to just rent and use the money you're saving from not having a mortgage in an index fund or similar investment.