What is a Good Situation to Own a House

I live in California, the cost of owning a house is ridiculosy high. Most people these days won't be able to afford owning a house in San Francisco. Even if you have $500,000 in hand there is no way you can buy a house unless you get a mortgage loan. When my dad first bought a house around 16 years ago for a little under $200,000 but we don't have that kind of money so we put down a down payment and got a mortgage loan. We paid off the house in a little under 10 years with a California mortgage refinance. Of course the bank made a pretty good interest from us because they need to make money too. It is the same concept as, "You scratch my bad I scratch yours."

If you think about it we paid about $1,500 per month like paying rent. Just think of it as paying rent and eventually you don't have to pay it anymore once you paid off the loan. I think why I a lot of people would rather rent a place is because they aren't steady in that location and needed to be ready to move if they needed to. If you plan to stay in one place for the rest of your life getting a mortgage loan to own a house is worth it.

When you own a house, you need to take care of it like a person because you need to pay property tax and insurance for it, but it is still less than renting an apartment for a whole year and you get a pretty big place for you and your family. You also don't have to worry about people living above you with kids stomping the floor and making noises.

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