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Message Subject Mortage vs Apartment living cost
Poster Handle sTTsTTT
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This is interesting to me as I'm putting the old homestead on the market today. Twenty years ago we mortgaged for 158,000-USD at 5.5-percent interest/30-fixed, VA 0-percent down. Over the years, put in just over 120,000-USD in maintenance, upgrades & landscaping. (Receipts are in the bag *grin*) This is a 3-level townhouse, fee-simple (non condominium), home owners association subdivision.

Property taxes over the years have been a roller coaster ride based on county assessments. Fairfax County Virigina assesses annually based on market/sold prices.

Adding everything together: principle, interest, property taxes, homeowners property insurance, utilities (gas, electric, water/sewage, telephone), all interior/exterior maintenance, HOA dues it IS a hearty chunk of change.

Buying a house is NOT for everyone. As a buyer, i'll say it's been quite an experience. Sometimes a total PITA and decided money pit. Sometimes satisfying and encouraging.

Would I buy again? Yes. Looking at land/house options, cash transaction rather than mortgaging.
 
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