I advise my children.....work hard....pay low rent....spend on necessesties ......only.....
Save....Save....Save.....
In 2-3 years save 200,000 dollars....park these $200,000 in fixed deposit in the main banks (not speculator)
Pay your rent.....out of Interest earned on it...pay for necessesties out of it for another 2 years..........save another $200,000.........
Work hard for 15 years and by the time you are 35 years of age.......Retire....as self funded retirees... ur on the moon........
On the other side of the story,,,,,,,,,Buy a house for $600,000.00.....on loan (from sharkers)
pay interest of about $5,000.00 per month....pull your own hairs in dispair while paying to sharker every month for 25 years......gets old and the house still not clear....
By the time the house becomes clear....the hoouse+interest and other charges will cost you about $950,000.00.....
Can't buy luxury....can't go for holidays......your hair turn grey while pay mortgage.......If default...you can lose the house....your own money invested in it.....
You are looking for deep cliff....to jump off.
So......people ..........compare.....
What is good for you????????.........To rent a house.......or to buy a house..
Consider........
Never ever buy a house.....
Deposit your hard earned money in Fixed Deposits..........and Live like a King...
oh,boy
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