Asklemmy

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Home owners of Lemmy do you have any advice on dealing with the stress of owning a home? (reddthat.com)

submitted 8 hours ago by [email protected] to c/[email protected]

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Every drop of water, crack, ant, royally freaks me out at this point. I can't afford to rent. I own a shitty house that is a fixer upper. So frustrating.

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[–] potate 2 points 7 hours ago

I sure wouldn't say 'all'. The first years of your mortgage you are paying the bank more in interest than you are knocking off the principal.

A $300k home with 20% down and an interest rate of 3.5% on a 25 year amortization schedule will see the buyer paying $8k in interest versus $6k towards the principal at the start. Over the course of the mortgage, the $300k home will cost $420k thanks to the $120k in interest the bank takes.