Homeownership- A case study
Today I am happy to feature a guest post from a family member. We have no financial relationships except that we buy each other beers when we are together. I recently discussed the real cost of homeownership since buying my million dollar plus home. It’s not pretty. The point of the article was that a lot of money goes to things other than principal and interest. Thus, when buying a home consideration should be given for the true cost of maintenance.
In talking to the author of this post, he agreed. He lived in Longmont, CO (the home of the famous Mr. Money Mustache), which by all costs has a reasonable cost of living. He lived in the same home for 14 years and recently sold it as the Longmont market has become more “hot”. Him and his family have since moved to Seattle where they will not be purchasing a home partly due to being empty nesters now and also the crazy housing market there.Read more