What's the most irresponsible purchase you made that you don't regret?
What's the most irresponsible purchase you made that you don't regret?
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256 comments
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My house. I bought when the rates went up, but I’m so much happier than living in an apartment.
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that's like the least irresponsible purchase. even at a high interest rate, you are still paying on a principle that creates an asset with equity that increases your stable wealth. When you rent, all that money you pay just evaporates and you never see it again. A mortgage payment is almost always the better financial choice, unless you need to move frequently for work.
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I merely meant that buying a house at a high interest rate is the irresponsible part. But yes, everything you say is true.
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I'd argue even that being irresponsible. yeah high rates suck but you're still paying on an asset, not a black hole.
Also, mortgages can be refinanced if/when rates drop later.
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I refinanced at 3% then did a HELOC to pay for a new roof. One of the best decisions I ever made
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a house? so irresponsible
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Same. Recently bought a house, rates are very high, but I can live with it. I've literally never been happier than I am now, no matter how many weekends I spend completely drained repairing some random thing.
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256 comments