49. “Our housing expense unexpectedly went up $2K when we bought our first home” (Part 1)
Money For Couples with Ramit Sethi
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Do You Have This Right So Far?
When you buy a house, it takes years to start building any meaningful amount of equity. A good guide line is to put aside one % of your total purchase price for maintenance. Do you know how long it takes until you start paying more towards your mortgage versus paying more interest? October 20 39, 17 years from now. And some of you guys are so brain washed you're work about paying someone else's mortgage, but you never stop to run a single calculation,. which would tell you you're paying the bank's interest.
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