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 Is buying second home a good strategy?, For young couple...

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arffrhn
post Feb 7 2023, 07:41 PM

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No use buying a house now for you to stay 20 years in the future. Unless the rental rate for that house can cover the installment.

Need to also keep in mind the cost for maintenance and upkeep of the house for the next 20 years before you move in. Buy when you need it later instead of now. You might have a different opinion then.
arffrhn
post Feb 9 2023, 12:47 AM

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QUOTE(CoolStoryWriter @ Feb 8 2023, 11:25 PM)
You have valid points. But just 1 question, isnt it a bad idea to use retirement fund to buy home in cash??? Thats a waste.
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It's best to look it this way:

You putting 2k a month for a second home; instead of buying now, invest it. It's not part of your retirement savings anyway since you'll be paying 2k a month if you buy now. Cost-opportunity, better to be more flexible than tied down in a long loan tenure for a house you don't need at present moment.



 

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