News for hackers. Stuff that matters.

A comment on The Five Biggest Myths About Saving Money, According to a Millennial. Parent comment

Re:The Five Biggest Myths About Saving Money, According to a... by ghaff on Thursday November 12, 2015 @03:07PM (#10555741)
Most sage advice about buying vs. renting boils down to "run the numbers but there are a lot of tradeoffs, many of them non-financial." The "Don't buy" sentence is deliberately provocative I think. The rest of what he says boils down to don't buy a house because you think you're supposed to. Which sounds like very sensible advice to me.

I certainly held off buying for a fairly long time because I didn't want to be locked down in that way. In retrospect I might have done things differently but hindsight is 20-20 and all that.

[ Parent | on HN ]
Re:The Five Biggest Myths About Saving Money, According to a... by byoung2 on Thursday November 12, 2015 @04:00PM (#10556077)
I certainly held off buying for a fairly long time because I didn't want to be locked down in that way. In retrospect I might have done things differently but hindsight is 20-20 and all that.

In my case foresight was 20-20 since I bought in 2012 and I knew that when interest rates on a 30 year fixed were the lowest they had been in 30 years that this was the time to lock in a mortgage. At the same time, housing prices in my city were the lowest they had been in 15 years so it made sense to buy. I knew if we didn't make a move then that we'd regret it once interest rates and prices started to rise.

[ Parent | on HN ]