Not really expensive.
-
9/16/2007
One writer mentioned that it is too expensive, and that rather than put $400,000.00 into a dumpy little old house, she would rather move to Argentina or the south (southern US). I realize that the common view for the middle class is that "rent" is a four letter word, but ALL successful business owners do "rent vs own" analyses prior to making any major decision regarding capital expenditures. Rents in Portland for decent apartments start at $550. You can rent a really nice luxury apt for 1000. If you own a 300k house, your monthly costs that the renter doesnt have will be 250 prop tax (theoretically, the rent includes prop tax), 150 insurance, and 200 for maintenance and repairs, including appliance replacement, new driveway, roof work, carpet, painting, water for lawn, landscaping costs including mowing(assuming you mow it yourself), etc. 250 + 150 + 200 = 600. You can add another 2000 or so for interest on that 400k, coming to a total of 2600. Now tell me just exactly how that 1000 per month on rent is "throwing away money"? I will have to agree with the other writer about the liberal racism and left wing kooks. That is just part of the territory here. If you really prefer Bubbaville in some red state, then be my guest. But keep in mind that what seems "friendly" about the south may just be an illusion. Have you ever tried inviting one of those southern goobers to actually get together with you in his free time. If so, he probably started telling you about how he just spends so much time socializing with his relatives that he doesnt have any extra time. But you have to translate what he says from Yall-bonics to English first.
Jerry | Financial District, NY