this post was submitted on 20 Nov 2024
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[–] Free_Opinions 9 points 6 hours ago (2 children)

Highly dependent on where one lives I guess. My friend just rented a new apartment and his rent is over double what my mortage payments are. That's also money he is never getting back where as in my case my house is paid in about 15 years after which I own the damn thing and the monthly mortage payment drops off entirely. Excluding mortage, the montly cost of owning my house is 275€ which includes water and electricity.

[–] teawrecks@sopuli.xyz 6 points 3 hours ago (2 children)

Excluding mortage, the montly cost of owning my house is 275€ which includes water and electricity.

That's also excluding regular maintenance or emergency repairs that a landlord would be (often reluctantly) responsible for. It is also possible to do big, expensive, necessary renovations on a house and have it hardly affect the value at all.

[–] trashgirlfriend@lemmy.world 3 points 33 minutes ago

It is also possible to do big, expensive, necessary renovations on a house and have it hardly affect the value at all.

Isn't this kind of irrelevant unless you're a house flipper? If you own a house and make renovations to it, it is because you find some practical value in it.

[–] Free_Opinions 1 points 14 minutes ago

My mortage payments for one year would cover all maintenance I've done to the house during the 8 years I've lived here including an entire bathroom remodel. Obviously someone less handy would need to hire someone to do the jobs I've done myself so that helps a little with the costs, but still. The maintenance costs for my house aren't even in the top 5 expenses I have.

[–] Raiderkev@lemmy.world 5 points 5 hours ago (1 children)

It's not about what your mortgage payment is. Interest rates are significantly higher now. See how much the same house costs at the current price and interest rates. Most likely it's significantly higher now as both rates and prices have increased.

[–] Free_Opinions 2 points 5 hours ago

My mortage payment is 520€/month including interests which are tied to Euribor12 and change once a year. My interests now are less than they were a year ago.