Post by anniefrukes on Oct 27, 2019 2:03:55 GMT
If you choose to rent, you always have a housing payment. Every month, you send money to your landlord. There's no way to escape this expense.
If you choose to buy a home, however, you can — if you wish — eventually slash (or eliminate) your housing payment. You can pay off your mortgage completely. When you do, you get rid of one of your largest monthly expenses, increasing your cash flow and giving you much greater freedom.
Paying off the mortgage doesn't completely eliminate housing costs. That's a common misconception. Depending on where you live, you might still be obligated to pay property taxes, utilities, HOA fees, maintenance costs, and so on. (Even without a mortgage on my condo, I was still on the hook for over $1000 per month in housing costs!)
If you choose to buy a home, however, you can — if you wish — eventually slash (or eliminate) your housing payment. You can pay off your mortgage completely. When you do, you get rid of one of your largest monthly expenses, increasing your cash flow and giving you much greater freedom.
Paying off the mortgage doesn't completely eliminate housing costs. That's a common misconception. Depending on where you live, you might still be obligated to pay property taxes, utilities, HOA fees, maintenance costs, and so on. (Even without a mortgage on my condo, I was still on the hook for over $1000 per month in housing costs!)