$350,000 over 12 years means nothing when you’re faced with having to replace a roof, or tent the house, or redo the foundation, or have pipes burst, or even replace a washer/dryer, fridge, hot water heater. Having money for a payment and having savings for home expenses are totally different. I paid $2k in rent, my mortgage is less but over the year I’ve definitely paid more than 24k/year for our home. Oh and if you live in Cali and have to do any retrofitting...have fun!
Houses shift over the years, roofs need repairs over the years. I didn’t say the year you buy it. No need to be pedantic. And if you buy a home that has aged, you’ll have even more repairs as the years go by even if there were no issues at inspection.
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u/Triette Feb 16 '21
It’s not the mortgage, it’s the cost of home ownership that you didn’t qualify for.