Quote:
Originally Posted by dinonz
Based on that I shouldn't have bought (built) my new home - I failed #3. I just checked and I could meet #3 without blowing the rest, I'm just not sure I want to, nor am I sure it would make sense in my situation (I'm not "working for a living" expecting the house to be my retirement).
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It is your money, not mine. You are welcome to spend it however you see fit. He asked for advice. As a CPA, I gave him some.
Financing any purchase over 30 years is a terrible use of capital. The interest on a 30 year mortgage versus a 15 year mortgage is nearly double. The PV of the FCF on that interest expense is in the millions for an average purchase price of $350K.