What's the deal

Ok lets do the math. You get a mortgage for 30 years. (that's 360 months; 12x30) So a $150,000.00 home with 3.5% down with a 5.529% interest rate makes your payment $821.00 a month. FOR THIRTY YEARS. That comes up to $295,560.00 that you paid for the house. This doesn't include taxes, insurance, repairs. And YES you will pay ALL three of these too. Now remember when you are ready to sale your home will be competing with other homes in the market place. Yep competing. Oh did I mention yours will be 30 yrs old assuming you bought a new house to begin with. Now here comes that old adage "location, location, location." You did pick the best location in your city, town, state right? The Realtor took out their magic crystal ball and told you that in 30 years everything was going to be A OK and your home wont be affected by bad school zones, new roads with more traffic, spot zoning of a new factory or industrial park. You got that in writing before the closing didn't you? Sure you did. Now back to that "investment" called your home. Its paid for and you want to sell. Comps show your home to be worth a whole $175,000.00. A what? I paid $150,000.00 30 years ago. SO. Its not what you paid for it its what somebody is willing to pay you to take it off your hands. Now I just painted that statement with a broad stroke but sometimes the truth hurts. This is the no spin Reality Zone. So what am I trying to do here? To open your eyes to what this investment is going to cost you. So are you ready?