Quote:
Originally Posted by Transfer
Paying off a home depends on where you live. Average home value in my city is a little over $800k. In Houston it's $200k. So I'm resigned to big mortgage and M cars whenever.  |
You are correct about the cost of home values in different cities. Typically the average salary is higher in New York though, but nonetheless 800k to 200k is a huge difference.
Also what is not mentioned in home ownership is the cost of maintenance/repairs that you are responsible for handling. Insurance does not cover everything. So to each their own on where they decide to live and for what reasons.
Which is why in the end I say just do whatever makes you happy.