How much do you owe?

HAHAHAHA Right? I do use a credit card to buy everything and turn around and pay it off though....

 

Interesting that not many are losing their ass.

 

Or not being honest

 

Probably

 

Paying cash for a house is a bit more then being financially responsible. Sure you aren’t privileged a little?

 

Does busting your ass and making a few smart choices count as being privileged?

 

I definitely understand the ease of mind of not having a payment, but the money side seems like you're missing out on an opportunity to make money off of the money you put into the house.

$200K borrowed at @ 4.5% and make money off bonds @ 6.25%, why not do that instead?

 

Because financial freedom, that’s why

 

Possible, but I was alluding to Tacomas holding their value possibly keeping people out of being very upside down.

 

Big 10-4, the ease of mind has to feel amazing.

 

I don’t believe that 40 percent of you paid off your truck already lol. I owe 11k on my 18.

 

They do hold their value very well. I wonder what it will be like in a year or two though, lots of 3rd gens out there with less than satisfied owners

 

Only 29k left

 

https://youtu.be/e9mWAxHpeew

 

Props to whomever can do this. That said - is paying cash for a house a realistic proposition for most americans? Even those who are frugal and responsible? Answer honestly please.

 

For most Americans? Absolutely not

 

Still owe 2 grand on my 18. I only had to borrow 5k to begin with. Got 25.5 for my (paid off) 2015 wrangler on trade which also saved me 25.5 worth of sales tax for an equivalent of 27k for JKU (original cost was 32). Also sold my 2004 Silverado and put most of that down, with the exception of withholding 2.5 k for a topper. Only payment we have. My Wife is fastidious about not having payments so we had tripled up on her 2016 Outback and paid it off in two years. BTW paid off our house after 10 years of ownership as well. Not in high dollar jobs either (wife is retired) and I still have several years to go as a mid-level government employee (fishery biologist), just good spenders. We invest a bunch each month than anything left after bills is good for whatever.

 

exactly! I bought and sold 2 previous homes "smartly" making enough money to pay cash for my current home..... I think that qualifies as smart, hard work and fiscally responsible... I also pay into a money market to cover my taxes and insurance thereby making a little more money...

My post was to highlight cash is king. I am fully aware it isnt typical for many.... but it is obtainable. I was not born into money, never won the lotto and have only been a Marine and now federal so don't make a shit ton of money.....

see above... judge less

I paid almost $23k in interest alone last year on my mortgage. The house is now mine. I could lose my job or be hit with a life changing event and my family will never worry about the house.... I in turn invest that $20k + at an average ROI of 7% (probably more) and my liquid cash returns pretty quick... I analyzed it and researched alot before making that final wire to the mortgage company. really it was the profit from buying at real estate lows/luls and selling during spike (like a stock). Also my wife is a realtor so I save a tone on not paying commissions.... it all worked out.

Sorry, my post wasnt meant to be bragadocious.... at the end of the day you gotta do you and spend more money on the taco! lol Not fiscally responsible but damn fun!

 

And you never will.

 

$18,171.45