No. of Recommendations: 4
one still has to account for the 15 years of property taxes, they were $7500 (1.5%) at first, but rose to $60,000 (1.5%) by the end of their ownership
A good list of the reality of home ownership expenses. I keep telling my friends who own several for rental income that there are easier ways to invest (even though I have made more in real estate than stocks).
You missed the tax bill by a mile. A house nearby just sold for 4.1 million. Taxes 15 years ago were $4000, and have gone up to $10,000. One of the advantage of a town full of fancy golf course second homes is that there is a big tax base, with fewer than average kids in residence to educate.
