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      05-16-2019, 06:01 PM   #72
omega2733
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Drives: '17 F80 MGM
Join Date: Jul 2018
Location: Durham, NC

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Quote:
Originally Posted by zx10guy View Post
In your list, you've neglected to offset the list with the equity gained in the property and any appreciation. Depending on the house you buy, you don't have to worry about the above issues. I've been in my house for 18 years. Bought it as new construction. I'm only now looking at having to replace the roof. I haven't had to do anything with the HVAC nor the hot water heater. I would say from the time I bought the house till now, the house has appreciated around $200k. And if you bring in interest payments, some of it along with property taxes have been offset by my ability to deduct these from my taxes. You can't deduct anything renting.
This is 100% true, I don't make weekly trips to home depot for the lawn (one of the best in the neighborhood too), water heaters are honestly cheap, dryers/washers can be found used for cheap only a few years old etc etc. I can afford to replace my roof every 10 years and my equity will still win, I've gained 50k in equity in the last 3 years on my property. Hell, my mortgage on my home is $300 less than my brother pays in rent in a cheaper area not including my interest/property tax deductions...

Funniest thing is that rentals are generally maintained like shit and have terrible appliances. When I was renting my power bill was $100 at the cheapest up to $150 a month for a 1200 Sq Ft apartment. I now own a 2400 Sq ft home and my power bill averages from $60-$120 per month due to energy efficient designs.
zx10guy2007.50