What if I had bought that house? We don’t often put serious thought into the paths we didn’t take, so I wanted to review this house I keep on my fridge. Not because the review will be 100% accurate, but b/c the process of doing the review helps me get better at computing these paths.
It last sold in May 2014 for $610k. Zillow says it is $900k – let’s pretend that’s true.
I would have purchased it for like $200k down. $410k loan. 30 years at 4.5%.
- $2890 Monthly Payment (for another 27 years)
- Other bedrooms for roommates
- $520k equity
- Bigass house to clean if I want to sell
- Estimated $300-$500 a month in maintenance
- Daily commute is 50 min each way, minimum + crazy mountain roads
- Close to nature on the weekends
- Diderot effect trying to fill it with stuff
- Less money for vacations and retirement investment ($55k paid in 3 years on interest and taxes)