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Capital Appreciaion should be the last reason to buy

I couldn't agree more with this little nugget

Via Scott Skinner:

Capital Appreciaion should be the last reason to buy; as homes do cost about 8%-10% year to own when you figure in interest, taxes, insurance and upkeep.

Though, if you have a fixed rate mortgage, pay down principal and are patient, history tells us, you will enjoy the many wealth creation benefits

Make sure you make prudent investment decisions when you buy Real Estate and buy a home for the right reasons.

Most importantly, make sure you can afford it, there is no sense working hard 7 days a week, even if we do have beautiful weather here in Scottsdale and the Greater Phoenix Valley, just to struggle to pay a mortgage that you cannot enjoy

Posted by Will Nesbitt - condos / real estate in Alexandria, Arlington, Fairfax County on 11/09/2008 05:36 AM

Comments (1)

1 Comments on Capital Appreciaion should be the last reason to buy

NOV

Thanks Will for commenting previously on my "Buyer without Agent like FSBO" blog post.

I think most of the New Yorkers have a Type A personality, control freaks most of time,

so they need to feel that they are fighting for their own destiny in finding a property.

Renters sometimes are that way here, but they tend to be more desparate as they have a more immediate needs...

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Will Nesbitt - condos / real estate in Alexandria, Arlington, Fairfax County

Alexandria, VA

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Condo 1 Alexandria / Will Nesbitt Realty LLC

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