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Reply to "True/False: you should buy the most house you can afford (in this area) to maximize appreciation"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]of course you buy the biggest house you can safely afford. it appreciates and it is highly leveraged. when you are 70 do you want to own a house, free and clear, worth $2.5MM or one worth $1.7MM? [/quote] Hi Realtor, I guess no one taught you that leverage works both ways? This is the same nonsense that caused the last bubble. OP, stay put in your happy home, and if you are in the further out suburbs, for the love of goodness, don't pay a nickel more. There is a bifurcation going on in the economy (check out Capital), and those areas are on the losing end. [/quote] horrible advice. time cures all real estate worries. IF the jobs are stable and IF they plan to live there at least 7 years, then buy the bigger house and be comfortable, happy and when they sell, richer. If my mtg was $2K less a month I would not invest it; I would spend it. Forced savings and I love it.[/quote]
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