Lets put it this way. Having a mortgage is not a good thing. Lets say you qualify for a 300 thousand dollar loan with a 7.5 percent interest rate and the term of your loan is 30 years. How much money will you end up paying in interest over a 30 year period? Now lets tack on property taxes, homeowners insurance, property upkeep, and appreciation.
So, if your property gains 150 thousand dollars in equity over a 30 year period, it is more than likely going to be eaten up by the mortgage interest rate, property taxes, routine maintenance, homeowners insurance, and all of the other expenses that go along with owning a home.
I don't think that owning a home is a wise investment unless you can buy the property outright. Our best bet as expediters is to live out of the truck for a few years and then buy a nice piece of land somewhere and hang onto it until we decide to retire. Why would anyone want to own a home and pay outrageous property taxes on it if you are never there?
Just some food for thought here. I'm sure I could have explaind my concept in a more professional manner. Also, (don't quote me on this) but I think you will end up paying double for a home if you take out a 30 year mortgage.
You guys have to do what I do; just show up at random family members houses and demand free housing for weeks at a time. The only problem with this concept is sometimes you go to find a family members house and find out that they have "relocated" and did not leave a "forwarding" address...