Re:The best investment I never made
by Domenic_S on Monday June 25, 2012 @12:56AM
(#4155157)
This is a timeline question most of all -- they're not making any new land, so property prices are (virtually) guaranteed to rise over a significantly long time frame. If you need to cash out in 3 years, property probably isn't for you.
> might as well pay less, rent, and save up. (worked for me)
I'm not sure about that advice these days with fixed rates in the 3% zone. In that range, inflation basically pays your interest for you. The tax writeoffs are nice. And there are some major deals to be had -- I bought a place 2x the size of my rental, includes a garage, in a better neighborhood, and pay ~$500/month more than renting. I don't have to worry about moving or neighbors, or if my landlord's going to jack up the rent... feels good, man.
> might as well pay less, rent, and save up. (worked for me)
I'm not sure about that advice these days with fixed rates in the 3% zone. In that range, inflation basically pays your interest for you. The tax writeoffs are nice. And there are some major deals to be had -- I bought a place 2x the size of my rental, includes a garage, in a better neighborhood, and pay ~$500/month more than renting. I don't have to worry about moving or neighbors, or if my landlord's going to jack up the rent... feels good, man.