One reason why I haven't tried to buy a house is because owning a house means you have to spend a lot of money to keep it in good shape, you not only pay taxes but also have to pay a lot of money for maintenance. If you bought a house through a loan you will have to continue to pay the loan for 10-20 years. Even when you bought from a loan, you will have to make 20-30 percent down payment and it could be a lot.
Financial Constrains of Owning a House
- Thread starter nomad
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Next stuff in financial constraint is keeping yard clean. If you have grass or thress you must mow the grass and collect leaves. Collect leaves is not problem. Bucket is enough. But for mow grass you need lawnmower. That means fuel, service.
I'm fortunate, I own a house and lot bought in cash 12 years ago. It's worth 1.8 million. It's the total sale from my Bagrass Eucalyptus trees investment. I planted those 2 300 trees 13 years ago. It's good to have an investment.
I do not own a house yet because I can't afford one. Most of my money goes towards supporting my parents financially.
Everything fell in place for us when we built my dream home Solitaire. We took a short term loan and repaid it after we sold our flat. We had enough savings too
