Expenses

you niggaz is old im savin up fo like a video ipod u wana split me about 250 breadz

What snigga?

Problem with a $200,000 mortgage is that the principal ends up being about double the loan's price with a 30 year fixed, opposed to $95,000 extra for the 15 year, so I figured I'd just buck up and keep on a tight budget now so I'm better off down the road. The same could be said with the car loan. Typical is a 5 year loan, but I did mine in 3 to get it off my back and save on the principal interest.

Get a smaller house, pay it off, resell it for more than you payed, get a better house. That's how it's supposed to work. You don't just jump into a great life that(for the most part anyway.) You're a young guy, why are you getting such a pricy place?

$250,000 is what I plan on having as my "junker". I plan on fixing it up, living there for 5 years or so, flipping it, buying a new place for like $500,000+ at least. I live in a nice area though, which is the price driving factor. The place is pretty damn big for the price, considering.

Remember, property values aren't the same everywhere. Like, around here, a $100k house is about average. In Cali, though, on the beach, a decent house is a couple mill. It really depends on the area and the cost of living.

Like they say it's not the size of the house that matters, it's how you use it amirite