Home Sweet Home

 

"Speaking of your condo, Cathy, there's an example of a sound investment decision." Roy's compliment seemed to surprise my sister. "With your income, and your expensive tastes, I'm sure you wanted a nice place overlooking the marina. Am I right?"

"Yes," Cathy replied sheepishly.

"Well, there's a perfect example of a case where it was better to buy. I'm sure your mortgage costs and condo fees are about the same as the rental costs for a comparable location."

"Almost exactly the same. That's why I decided to buy." Cathy shrugged. "I figured I might as well be an owner if the costs weren't any different."

"Well, they were a little different in that, by buying, you gave up the use of your down payment. But, nonetheless, you did make the right move. Plus, you bought a condo, so you won't have to be involved in maintenance and repairs."

"I just don't have time for that, Roy," Cathy agreed.

"Dave, you seem to be heading in the right direction, too. With a child on the way and Sue working out of the home, you'll need the space a house provides. That fact, combined with the investment and tax merits of home ownership, leads me to conclude that buying a house is probably the right move for you," Roy stated as he brushed off my shirt.

"'Probably' is not the word I want to hear, Roy." I frowned as I abdicated the barber chair to Tom.

"I say 'probably' because there is one time when, even for the individual to whom home ownership seems ideally suited, it is best not to buy."

"Now there's a contradictory sentence," I noted.

"No, Dave, that situation can exist. Just ask some folks