victor wrote:

Ok, ok, ok. My friends and family keep nagging at me to stop renting
and buy a house. I'm so sick of them droning on about points-this and
closing costs-that. But the more I think about, the less sense it seems
to make for me. Here's why:

1. "You'll save a fortune on taxes." True. But the property taxes
will pretty much cancel out any savings you got on the income taxes.


you can write off property taxes too. In fact, my house payment after
all the tax writeoffs is lower than renting a dinky 3/2 apartment and I
have twice as much room, a 2 car garage to boot.


2. "You're throwing rent money down the toilet." True. In all
likelihood, your mortgage payment will be twice your rent. By the time
you pay it off, you'll be drinking Ensure, wearing Depends, and too old
to maintain the house. Then you'll be wanting to move back to ... AN
APARTMENT! By that time, an assisted living apartment. And let's be
realistic. You're NOT going to be like those power couples in Money
magazine who claim they're going to pay off the mortgage in 5 years and
retire in 10. Yeah, right.


You can pay off a house a lot sooner than 30 years, mine'll be paid off
after 12.

3. "It's one of the few things you buy that appreciate in value."
Assuming that you find someone who is willing to pay your inflated
selling price.

which is typically the case


Assuming that the neighborhood doesn't go down the
tubes.

even ghetto people need ghetto houses to live in.


4. Maintenance. I'm lucky if I have time to clean my apartment, let
alone a house. I've worked customer service for plumbing, HVAC, and
home maintenance companies before, and I hear how much people pay for
this stuff. In an apartment, it's all FREE.


well shazaam, why lease or buy a car, just rent one from Hertz or Budget
by the week and have them pay for the FREE maintenance.