Only buy a house if you are sure you're going to be in it for
at least 5-8 years.
Otherwise, the real-estate transaction costs aren't covered by
the tax and investment benefits. Though the point above is valid, that housing costs are at an all-time low in many places, so there is a better chance that if you did have to sell the house in the short term, that you could still make money, due to rising house values.
In my area, my damned appraisal went up again this past year. Which is
good and bad I guess....
1. 401K for the max + ROTH (only if AGI is low enough to allow ROTH benefit).
2. Trade options and commodities before playing blackjack or wagering on sports.
3. If buying a car, buy a used one that's no less than 3 years old, as the biggest portion of depreciation occurs in first 3 years.
4. Don't get married until you're in your mid-30's at best. And get a pre-nup.
5. Read the book "Millionaire Nextdoor".
2. Trade options and commodities before playing blackjack or wagering on sports.
3. If buying a car, buy a used one that's no less than 3 years old, as the biggest portion of depreciation occurs in first 3 years.
4. Don't get married until you're in your mid-30's at best. And get a pre-nup.
5. Read the book "Millionaire Nextdoor".
It's amazing. I'm paying $565 a month for rent right now in an apt......a buddy of mine just closed on an 1100 sq. ft. house in a nice subdivision for $585/mo mortgage.
If I had a good job and was confident I'd be in the area at least 10 years, I would definitely buy a house. It's a no brainer.
