Comments on: October 17, 2007

By: Miss Cellania

Miss Cellania — Wed, 17 Oct 2007 17:03:53 +0000

Thanks! The links are only kept in our system for a few days, because they really pile up. But I can often remember where I got them, so you can always ask.

(I sent Daniel a few resume links.)

By: Daniel

Daniel — Wed, 17 Oct 2007 16:20:14 +0000

Your links are always awesome! Do you have a list of them from the past? I like to look at old ones, but once they are gone, can’t find them.
I am also looking for the one about resume writing.

By: Miss Cellania

Miss Cellania — Wed, 17 Oct 2007 15:20:40 +0000

Good point, IF you end up spending more money on house payments than rent, because the money you pay in rent will never be yours again (tied up or not). My mortgage payments were less than I’ve ever paid in rent. So now I have some wealth tied up in a house, whereas if I rented, I wouldn’t have that at all.

Of course it depends on your circumstances. I personally am better at fixing up an old house than I am at saving money!

By: Millionaire Mommy Next Door

Millionaire Mommy Next Door — Wed, 17 Oct 2007 14:57:01 +0000

Thanks for the link to my conversation about renting!

One note: You wrote, “Sometimes renting can be more cost-effective than buying a home. That is, unless you actually pay off your mortgage..”

Actually, I addressed the hidden cost of lost opportunity (in a subsequent post). Even if you own your home free and clear of a mortgage, it can wind up costing you more than renting. Why? Because your equity is tied up in the sticks and bricks over your head… therefore you can’t invest cash into equities to make a long-term historical average return of 10-11%.

Lost opportunity costs are definitely important to factor into your rent versus buy equations.