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I'm wrong, sorry.

The amount of your payment will not go down, you just pay less of the payment % as interest and more as principle.
 
I'm wrong, sorry.

The amount of your payment will not go down, you just pay less of the payment % as interest and more as principle.

Right, but over the life of the loan you pay less interest
 
Mick, another thing for you to think about. Where do you work? If you work in Vancouver it makes sense for you to buy in Vancouver, not Oregon. Not only are property taxes generally higher in Multnomah county, if you work in Oregon and live in Vancouver you pay sales tax and Oregon income tax.

So if you work in Oregon, I'd buy in oregon. If you work in Vancouver, I'd buy in Vancouver
 
Keep in mind Vancouver will cost you far more for a multitude of fees that will more than offset any savngs you get from property taxes compared to Oregon. Pretty much EVERYTHING except property taxes costs more in WA.

Food, gas, utilities, car registration is obscene, sales tax...

The most important suggestion was the one about being able to comfortably afford your payment without a roomie/renter/relative contributing. Bringing your brother in doubles the odds of someone being laid off, injured, or imprisoned, leaving one income to carry the weight. Also, I've found that even the best friends get sick of each other after several months of co-habitation. And when you are buying a home but your roomie is paying half the payments he really can't help but feel like he's a part owner and above obeying your wishes about upkeep, rules...

Do you really want to end up hating your brother? Better to rent a room to a stranger you'll be comfortable throwing out if you have to.
 
Keep in mind Vancouver will cost you far more for a multitude of fees that will more than offset any savngs you get from property taxes compared to Oregon. Pretty much EVERYTHING except property taxes costs more in WA.

Food, gas, utilities, car registration is obscene, sales tax...

The most important suggestion was the one about being able to comfortably afford your payment without a roomie/renter/relative contributing. Bringing your brother in doubles the odds of someone being laid off, injured, or imprisoned, leaving one income to carry the weight. Also, I've found that even the best friends get sick of each other after several months of co-habitation. And when you are buying a home but your roomie is paying half the payments he really can't help but feel like he's a part owner and above obeying your wishes about upkeep, rules...

Do you really want to end up hating your brother? Better to rent a room to a stranger you'll be comfortable throwing out if you have to.
For someone like me, that makes over $250k, it's a huge discount to not pay state income tax. I'm not familiar with property taxes, so I don't know if that discount will offset the tax savings.

In California, I pay 10% state income tax. That would be a 29k savings if I could do away with state income tax.
 
Keep in mind Vancouver will cost you far more for a multitude of fees that will more than offset any savngs you get from property taxes compared to Oregon. Pretty much EVERYTHING except property taxes costs more in WA.

Food, gas, utilities, car registration is obscene, sales tax...

The most important suggestion was the one about being able to comfortably afford your payment without a roomie/renter/relative contributing. Bringing your brother in doubles the odds of someone being laid off, injured, or imprisoned, leaving one income to carry the weight. Also, I've found that even the best friends get sick of each other after several months of co-habitation. And when you are buying a home but your roomie is paying half the payments he really can't help but feel like he's a part owner and above obeying your wishes about upkeep, rules...

Do you really want to end up hating your brother? Better to rent a room to a stranger you'll be comfortable throwing out if you have to.

Were teamsters. The odds of us getting fired isn't very great. He just wants to room until he makes full wages and can get a place for himself.
 
The only reason to move to the burbs' (i.e. Vancouver) is if there are hot teenage (uhh...legal) daughters next door.
 
Mick, another thing for you to think about. Where do you work? If you work in Vancouver it makes sense for you to buy in Vancouver, not Oregon. Not only are property taxes generally higher in Multnomah county, if you work in Oregon and live in Vancouver you pay sales tax and Oregon income tax.

So if you work in Oregon, I'd buy in oregon. If you work in Vancouver, I'd buy in Vancouver

I work in Portland. Moved back here a year ago. Got tired of traffic and just like the way of life better in the city.
 

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