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4258 Pepper Dr (PROS (Own Your Own House (Equity/Investing in Future,…
4258 Pepper Dr
PROS
Own Your Own House
Equity/Investing in Future
Monthly payments won't go up
Own it in 30 years
Interest rates are currently low
Can do whatever you want with your house (grow food)
Live in San Diego
Central to friends/interests
Closer to CPR work
Financial
Can rent house + garage
Have to pay for any repairs
People can fuck your shit up
Tax benefits (can be $3k+/yr, $300/month)
House value can go up
House value can go down
Love the house
Fits our needs
Limited space for more than 2 people
Great for entertaining
Dogs
May not always have dogs
Immediate neighborhood is nice
CONS
Financial
More expensive (than current rent) without using it as a rental
Use most of JZ savings
Have to borrow money from parents
House needs $10k +/- of work
We'd need to buy a few things that we don't have
Have to pay to get out of our lease
Home Ownership
Responsible for all necessary fixes
Less flexible in life if not able to rent
Housing market can crash
Housing market can go up
Have to live with roommates if we want to save money/pay less
Living in SD
Further commute for JZ
Can work from home
This specific house
Limited space for more than 2 people (not including garage)
Dogs can damage nice things
House is 80+ years old
No storage space (excluding garage)
Nearby neighborhood isn't so nice