Well That Was Quick

[Deceus]

Something I rarely see mentioned regarding buying property: you're still potentially throwing away an assload of money. I think of the $1800 I spend on my house a month, ~$425 goes to principal. When I first decided to buy, I imagined that number would be a lot higher. Interest is a bulk of the difference, then there's insurance and taxes to factor in.  The bank just takes your money instead of a landlord or apartment complex.

Also my water bill is absurd at $120+ for less than 3,000 gallons so that's money I'm pissing away every single month along with my HOA fees. Not to mention repairs. If you think the Jeep was rough, look up the cost to replace a roof.

My advice: focusing on your career is best thing for ROI in your 20s. The only way to get a decent raise these days is to move jobs. That's a lot easier without a mortgage anchoring you down.

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I guess I just see the rent that some people pay as absurd when a mortgage could cost less. Also, those bills like water, electric, etc. all still have to be paid when you're renting. The only advantage I see to renting would be avoiding the liability of repairs for water heater, appliances, roof, etc.. 

But you make a good point, being flexible with moving around in order to advance my career is probably the best thing for ROI in my early 20's. I guess I just have to see the feasibility of owning property while also renting it out if I need to move. This is my overall goal, not to be in that same house/condo for 10+ years. My thought process was to buy property now, starting paying off the principle, then in a few years, I can move somewhere while now renting out that property to supplement the mortgage and repairs; all while the value of the housing market hopefully rises due to the area.

You missed the point of the water bill probably because it lacked context. It went up $100 just because I moved across the street and am now at the mercy of a for-profit utility company that pretty much said "bend over or move out" knowing damn well most people can't/won't move out of a home they own over a water bill. That's $1200/year I'm wasting that I never foresaw being an issue. That's 3 months of progress on my principal gone every year for a while. Now this is obviously an issue fairly unique to massanutten but my point is this: Your plan is solid from the 10,000 foot view you have right now but the devil is in the details. You will not be making as much progress on anything as you think you will.

Regarding Airbnb: Rockingham county is taking 5% right off the top from my income AND making me inventory everything used in my "business" so that they can make me pay business personal property tax on it. I even have to provide a depreciation schedule along with it. I'm lucky I'm only renting a room because otherwise I'd have to include EVERY.THING. in the house. Even the damn silverware. It's a HUGE pain in the ass to deal with.

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