Should you invest in buying a home, or put your money into the stock market?
Here’s one reader’s opinion on the subject:
Stocks are still too volatile, IMHO, and if I was to invest in stocks it would be for long term investments. My father is a day trader, but it’s literally a full-time job for him and he has to keep a constant eye on his stocks, which I don’t have the time for right now.
Unlike stocks, I think that Real Estate is more predictable and the losses aren’t as damaging as stocks can be (the chances of losing a couple of thousand dollars in one day from a bad stock isn’t a good way to make an investment in my opinion).
Here’s my recent Real Estate venture experience (I do think the numbers say it all):
Purchased in 2003 in Abington, MA:
$230,000 with $35,000 down
2,528 square feet
3 bedroom / 2.5 bath
Monthly expenses with a 5/1 variable rate of 4.85%:
Mortgages 1st and 2nd = about $1,500/mo.
Taxes = $1100/year.
Put in about $50,000 of work into improvements.
Now appraised at around $450,000, but could possibly sell for more since there are new developments that just sold for more in the neighborhood.
Sure I’m not in the city, but the commute’s only about 20 minutes from the city without traffic, and I’m willing to sacrifice a little bit of my lifestyle for a few years.
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Updated: January 2018