|Quoting DFWHeavy (Thread starter):|
Now that we can check this accomplishment off the list, what could be next...?
|Quoting DFWHeavy (Reply 9):|
I watch the shows and people are looking to find a little one or two bedroom "Condo" with no yard and expensive HOA fees for $400K+. It's utterly ridiculous and I can't understand for the life of my why so many people go this route when you can be in a place like Texas where you can actually afford a real home.
|Quoting DFWHeavy (Reply 11):|
We have 2 A/c units. Our bills have ranged from $133-$249 in the middle of summer.
|Quoting DFWHeavy (Reply 6):|
Because we have no state income tax, Texas taxes are relatively high. We are currently fighting our tax bill, but it's someone in the neighborhood of $5,500-$6,000 a year for a home like ours.
|Quoting Ken777 (Reply 2):|
With your mortgage you should have an amortization sheet that shows the interest paid each month and also the principle paid each month. One of the best games going in the market is to add at least one principle payment each month while it is low. On my first house (MANY years ago) the monthly principle was about $12 a month - and my wages then were just about as low.
We did make multiple payments. Adding $12 to the monthly payment meant we paid two months on the mortgage. It obviously went up over time, but it saves a lot of money. If you have a 30 year mortgage then one payment saves the interest on that amount for 30 years. It is also a good way to save money with the interest tax free because you are saving interest expense and not "earning interest income".
|Quoting something (Reply 25):|
Payments in addition to the mortgage payment, to pay off the mortgage quicker and thereby reduce interest expense.
|Quoting DFWHeavy (Reply 23):|
We are pretty sure it's a good investment, but not naive enough to say the value still couldn't go down a bit. Given that we bought it for so cheap and got a fixed 4.75% interest rate, I think we'll do ok