I’m hoping the readers of Seattle Bubble can help me out with something. First, a little background on my perspective. My parents bought their first house in 1987, when they were about 30 years old. They paid $45,000 for the modest 1,288 square foot, 3-bedroom, 1.75-bath house pictured below. They refinanced once in the ’90s…
Tag: equity ladder
Can You Really Climb the Equity Ladder?
I’m working on a post that explores the concept of the homebuying “equity ladder” (or “property ladder“), in which the lifetime buying plan of the typical American homebuyer is assumed to look like: photo by Flickr user Atle Brunvoll Buy a cheap starter home in your 20s. Maybe a little 2-bed house or a condo…
Get on the equity escalator and trade up later!
I am hoping someone here will be able to clear this one up for me. One of the frequently-repeated arguments that real estate salesmen use to try to convince the renter-serfs to buy a home is that once you buy a home, your costs are fixed. While that’s not entirely true (taxes, insurance, and maintenance…