Savings needed for switching jobs?

[Naeeldar]

Not to be a dick, but if my home is worth $200k in 25 years, then I've def lost money, as my interest rate is around 3.75%, which essentially doubles my mortgage over 30 years, ie I'd have paid around $300k to the house but it'd only be worth $200k. I get your point though...But I don't think a small starter home is a good place to rent out and hold because the equity won't grow that much. I will never do upgrades to the house, because people will not pay for those things given the fact it's mainly for new couples/families.

I think renting condo/townhouse is more ideal.

If you are getting the mortgage paid for the entire time and then exceeded as the years go buy you make money. Regardless I just through some random numbers together. I agree houses are generally bad rentals - the right townhomes/condos can be great rentals.

Also there is a lot value in being able to build up equity in somethign over the long term where costs are negligible.

But renting is definitley not for everybody. I purchases a condo for my first place because it made sense to rent it out and I also expect to pay off the condo in 10 years vs 20 or 30 etc.. Right now rent covers mortgage as it is and I'll have a nice bit of retirement money in a property - that will bring me rental income after paid and then can be sold when at some point for a hefty lump sum. Didn't scare me much though because I grew up with a father in the industry and one who has quite a few properties he has rented out over the last 25 years.

 

[Imp]

But renting is definitley not for everybody. I purchases a condo for my first place because it made sense to rent it out and I also expect to pay off the condo in 10 years vs 20 or 30 etc.. Right now rent covers mortgage as it is and I'll have a nice bit of retirement money in a property - that will bring me rental income after paid and then can be sold when at some point for a hefty lump sum. Didn't scare me much though because I grew up with a father in the industry and one who has quite a few properties he has rented out over the last 25 years.

Will rent cover mortgage when rates go up with quantitative easing progressively easing and the economy rebounding on paper?

How are the maintenance fees and property taxes holding up?

Any foreseeable special assessments on the building for major repairs?

 

[z1ggy]

If you are getting the mortgage paid for the entire time and then exceeded as the years go buy you make money. Regardless I just through some random numbers together. I agree houses are generally bad rentals - the right townhomes/condos can be great rentals.

Also there is a lot value in being able to build up equity in somethign over the long term where costs are negligible.

But renting is definitley not for everybody. I purchases a condo for my first place because it made sense to rent it out and I also expect to pay off the condo in 10 years vs 20 or 30 etc.. Right now rent covers mortgage as it is and I'll have a nice bit of retirement money in a property - that will bring me rental income after paid and then can be sold when at some point for a hefty lump sum. Didn't scare me much though because I grew up with a father in the industry and one who has quite a few properties he has rented out over the last 25 years.

Will rent cover mortgage when rates go up with quantitative easing progressively easing and the economy rebounding on paper?

How are the maintenance fees and property taxes holding up?

Any foreseeable special assessments on the building for major repairs?

We don't need to turn this thread into a buy and sell vs a buy and hold real estate argument. I think we understand the risk factors and costs of each. As is stands right now, I'm planning on selling my house

 

[Naeeldar]

Will rent cover mortgage when rates go up with quantitative easing progressively easing and the economy rebounding on paper?

How are the maintenance fees and property taxes holding up?

Any foreseeable special assessments on the building for major repairs?

Since my mortgage was a 30 year fixed and paying it off in 10 - I'd say rates are not exactly a concern.

Area was chosen for the nice property taxes and maint fees are nothing. Also they just replaced the roofs and siding in the last 5 years.

Anyway I'll see a round or two of repairs as I expect to own the property for at least another 30-40 years.