LogFAQs > #952283802

Seanchan posted...

Others might not agree, but my ethos is that any money I put into retirement accounts, Roth or otherwise, is not to be touched until retirement. The only exception being if I would literally die without using that money, meaning that a down payment doesn't count as life or death.

Fair enough. For me, I'm vested in a pension and that's one thing I won't touch unless I'm completely desperate.

Seanchan posted...

I could afford a condo but the fees are ridiculous; like $300 to as much as $1000 a month. Why would I want to spend $2000/month on a mortgage, then add condo fees and property taxes on top of that, when I could just spend $1800/month, continue to rent and have no stress whatsoever if something breaks. I'd think about a house but they're simply too expensive without going into the outer 'burbs, which I don't view as a viable option at the moment.

It's insane too because of how cheap they are in other states. You still have an HOA fee, but they're closer to $150-250 and the unit itself costs 100-200k. That sounds about right for most people, not some of the nonsense in LA. I just saw one listed for 220k (1 bed, 1 bath, about 600 sqft), but the HOA is over $600.

But absolutely, houses are a better long term investment if you're comfortable with having a lot of money in it. I was confident that I wanted only a house, but the cost of it deterred me and just having a place I own is something appealing to me at this point, just to escape from the predatory landlords around the LA area.

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<D