jeromy's with us in fort myers florida
hi Jeremy welcome to the Dave Ramsey
chef hi Dave I said listen you feel the
Buffy phones gel and the both of your
organization's do I just can't thank you
guys enough guys emplacing well thank
you very much
we're big Bobby bones fans around here -
how can I help well my wife and I we
sold her house and the real estate when
we purchased was a rock-bottom
we got a college you got our houses our
jobs we stayed in there for about ten
years or just recently sold it and we
made a ton of money my question is if
you were in my position would you
purchase a condo with HOA fees or would
you purchase a single-family home and
then finance the rest so you can buy a
condo debt-free yeah if you buy a home
you're going to spend more correct in my
area yeah okay
well no it's this it's the size of home
you're looking at there's no it's a
different different scenario age so I
mean I love the idea of being debt-free
obviously that that's what I'm all about
is to get you to that point if you were
to finance some on the home what would
how much would you finance well in my
area about where I'm only just a small
small stuff I probably be financing
about 60 mm-hmm maybe 120 total I have
about 70 cash but in your household
income is what 80 okay so if you
borrowed $60,000 you could pay that off
in like two years right possibly yes yes
thirty thousand a year out of 80 that's
true yeah you're right you know it's no
brainer you're right yeah I'm probably
doing that okay and the reason is a
single family number one you don't the
HOA fees probably and unless you buy a
home that has a in a neighborhood that
has an HOA but the the reason is if you
put a identical pricing which is not
what we're talking about but if you said
okay we're talking about one hundred
twenty thousand dollar house or 120
thousand dollar condo which one's going
to go up more in value if they are I'd
tentacle in neighborhood and in appeal
overall the single family will
appreciate more than the condo now
they're never identical so it's that's a
theory theoretical thing I'm saying if
the condo is in a better area it could
appreciate more you know if it's a more
desirable condo than a less desirable
single-family so but all things being
equal single families will do better
than condos or zero lot lines or you
know duplexes those kinds of things so
I'm gonna go towards a single-family
it's still a very conservative purchase
on your part and you can still pay it
off very very quickly okay well thank
you so much for appreciate you answering
that absolutely my honor thank you for
being a new listener thanks for calling
in