GC, it seems so closer but. . .

Well it all depends on "How much risk you are willing to take ", And for someone who has burnt his finger badly by investing in stocks, buying a house is not an option in the current state of economy. I'm of the the opinion that if I have JOB, I can afford higher mortgage. I dont mind paying an extra 1-2%(in worst case scenario thats how much rates will go up) if I know that the job market is good and I can find a job easily if I get laid off, I will buy a house, till then am happy in my apartment. I dont want to rush in buying house just because the morgage rates are at historic lows. And would advise my wothy forum mebers to do their calculations judiciously before taking a plunge in housing mortgage.
 
Strange that everyone who has a house recommends buying one and everyone who "is happy in his appartment" says that it is not an option in this economy.
Like I said before with the mortgage comparible with rent there is 20-25% tax advantage when paying mortgage regadless of today's APR. With my townhouse being around $200k and mortgage being around $800 I will always find someone who would be willing to live in my fireplace-basement-1500sq-feet house instead of a small apartment for the same price or lower.
Returns on money invested in real estate have always been higher than any money-market or savings accounts, so it is also a good money-managing move.
Plus living in a bigger place usually helps family problems as well - no kids playing while you are watching TV in the same room or wife talking on the phone while you are trying to sleep.
So if you can find an inexpensive house and have 20% for the downpayment don't think twice and become a home-owner.

frantic - supporting a house from abroad isn't a big deal at all - I have one in Europe while I live here and don't have any problems at all. You just need to do the math and find a lawyer to take care of the paper work.
 
udacha6, a lot of people made a lot of money from real estate (very recently Arnold Schwa...), on the same token a lot of people made money on the stock market too.

Can you give some pieces of advice on your real estate investments? How do you find people to reside in your home? How do you manage them if you have very bad tenants?
 
Note, it's hard to make money in real estate, because you can't sell your house, if you choose to stay in the same place, then the other houses surrounded you are expensive too, increased same percentage as yours, maybe more. Unless you move to a cheaper place, you can't say you make money in real estate.
 
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