Quote:
Originally Posted by ASBSECU E93
Disagree on waiting to buy a home.
OP can borrow $$ toward RE purchase at record low interest rate levels. If/when he marries, then he has the option of selling an asset that should have appreciated, or they can live together in a house that has equity - valuable for a young married couple that plan to expand family, etc....
Home ownership is power....IMO, that's what OP should invest in...
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Not to mention the current tax incentive (unless this goes away) in being able to claim the interest. Heck, you can even apply PMI now. Also, the Feds giving you a pass on capital gains taxes on the appreciation of your primary residence if you've lived in it at least 2 years out of the last 5. This is huge as the Feds are allowing this tax exemption up to $250k of capital gains for single and $500k for married.
And the low interest rates are no joke. I have my primary locked in at 3.75% for 30 years and my vacation property at 3.25% for 30 years. My monthly payment (PITI) on the vacation property is less than the number being thrown around here for the M3 being talked about. Yet in the 4 years of owning the property, I've experienced (on paper) an appreciation of about $40k based on comparable new construction homes just sold as the development is still being built out.