Quote:
Originally Posted by nfotiu
Well, to be fair, if he had bought a $400,000 house, he would have likely spent pretty close to $15,000 in property tax, interest and repairs.
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I came across the way I did due to other posts in this section which ruffled the feathers of both myself and some moderators.
As for the 15k in property tax, interest and repairs, it seems high to me... a couple thousand in property taxes - repairs should be at a minimum less than a year in assuming you had a inspection done and adjusted for required repairs. Interest I can understand depending on how much is put down but it is interest he will pay at whatever point he buys. If prices dip 30k on that 400k property, the interest saved on that amount is minimal.