Life QotD: Home Sweet Home
Do you own your home? If not, do you have plans to buy a home in the near future?
Yah I do. Let me tell you that owning a home in Oahu isn't cheap. Although owning a home does have it's benefits if you play your cards right. First there's the tax shelter that you recieve, and it kicked in for this past tax year. Next, there's the borrowing power you get from your equity. I plan on paying off a bunch of different credit card bills and paying just one bill with a lower home equity rate. If you haven't done it, nows a good time to buy a home because the interest rates are still low. Just don't get stuck in an interest only loan.
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It's weird to think of average people being "millionaires"... but when it all comes down to it, the houses here are crazy expensive, people really ARE millionaires (in assets).
What a coinkidink? I grew up in Palisades above Faststop and I work down the street in Kapolei. LOL. Well, I'll keep my eyes open for any good deals. I know you might not like the area but the new houses in Maile are nice and the neighborhood is comprised of well to do people. Hopefully you can get rid of some of your debt and stop paying for someone elses mortgage. Read the book "The Wealthy Barber", it will put you on the right track. A former boss bought that for me and it changed my life. Good luck.