Of the mortgage, your equity increases just eith principal paydown...taxes, insurance, maintenance (commonly estimated at 1% annually of home value)...
Having a mortgage can make sense for a lot of good reasons...but a well priced rental can sometimes be better for the situation.
Contralogic t1_j2e0xjl wrote
Reply to comment by TurdFurgeson18 in Can I afford $2800 rent based on my financial situation by irishgirl249
Be careful turdferg with this math..
Of the mortgage, your equity increases just eith principal paydown...taxes, insurance, maintenance (commonly estimated at 1% annually of home value)... Having a mortgage can make sense for a lot of good reasons...but a well priced rental can sometimes be better for the situation.