I bought new construction and thought is was risk free. I identified the community when it was being built as a sure thing to end up the most desireable neighborhood in my neck of the woods and its exceeded my expectations. We put 20% down and the mortgage was less than 2 times HH income. If I had to liquidate investments I could have paid cash. I didnt expect the market to skyrocket but expected steady appreciation for the market and well above the market average for my community. Again both have exceeded my expectations. I dont take the kind of chances you did.
So you did essentially buy a house for your dogs. LOL. I got a secret for you. You dont have to have dogs. You made a choice based upon the pets that could easily have blown up in your face even worse than it has. You say the loan you have is great and you would do it again but you got lucky. If interest rates were where they should be you probably would be sitting on a mortgage you couldnt afford right now. Its easy to cast stones at others decisions but dissected yours could be also.
BTW stop saying you P&I is less than rent. There are other costs you are conveniently ignoring again and again. You pay taxes, insurance and maintenance that renters dont.
