renting IS a waste of money. After all you paid, you own nothing.
along the same lines, an interest-only loan IS a waste of money. after all you paid, you own nothing.
even if after 7 years, all you own is the front door, at least you own something
but if that's the case, you certainly did something wrong.
I've only been at my house since october, and i've already reduced my principle $3000. Doesn't seem like much, but when only $32 of my $2745 payment goes towards principle, i think $3000 is a solid figure
The zestimate (from zillow) is up $5k since i bought it, and is $5500 over my purchase price. While not 100% accurate by any means, i've earned about $8.5k in equity on my home in less than 6 months.
can't do that renting...
along the same lines, an interest-only loan IS a waste of money. after all you paid, you own nothing.
even if after 7 years, all you own is the front door, at least you own something
but if that's the case, you certainly did something wrong.
I've only been at my house since october, and i've already reduced my principle $3000. Doesn't seem like much, but when only $32 of my $2745 payment goes towards principle, i think $3000 is a solid figure
The zestimate (from zillow) is up $5k since i bought it, and is $5500 over my purchase price. While not 100% accurate by any means, i've earned about $8.5k in equity on my home in less than 6 months.
can't do that renting...