We just bought a home in Dec w/no money down, but we got a great interest rate and the timing was right for us. We actually had the down payment money but wanted to save it for home repairs/emergencies. So when all the closing fees got rolled in, about 13,000 dollars worth.. the price of our home definitely went up dramatically.
I was paying 600/mo in rent and thought the same thing as you.. why rent when I can buy for nearly the same? But it is more $$. There's home owners insurance, taxes, emergency funds for repairs, ect.
I wouldn't trade it, but I'm paying double what I did then so it's been an adjustment that's for sure =) |