If you’re in the wealth accumulation phase of your life, I think buying a home is a terrible decision (in most cases). Prove me wrong. Seriously. I’m not being rhetorical. I want to see if there’s math that says otherwise.
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$270k. Got all the capital back in 2016. 30y fixed at 3.5%. Just refid to 3%. Get $9k a month in rent. So covers full P/I payment plus taxes, maintenance plus $2k in CF per mo. By 2040, it’ll be a free/clear $2.5-3m asset that I really never paid for. Pretty nuts.
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How is that diff than saying the average angel investment is a loser though? I agree w the general notion: personal home is a consumption decision but it’s def possible to do both (just not everywhere and not all the time).
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Many reasons. It’s part of an American dream and culture to buy a home. It’s expected. Writing a $25k hoping it’s Facebook is not.
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With mortgage and partial re tax write off, plus likely home price appreciation, you are much more often ahead owning your primary home vs renting it. You have to hit the down pmt and mtge amt right to get max after tax benefit. Emphasis- relative to rent, not other biz opps
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