You can’t afford that house if you need to find a paying tenant
Pretty self-explanatory no?
I don’t know what keeps me interested in watching HGTV when people on there are so clearly clueless at times about what they’re doing with their money in terms of spending it on a house that they can’t afford.
Maybe it’s the same sick “can’t-look-away-even-though-I-want-to” fascination I have with watching shows about debt, really cheapskates, or people hoarding and couponing for crap they don’t want or need to an inch of their lives.
Or maybe I just like seeing the end result of everything looking pretty, after keeling over from shock at the cost / prices / shoddy DIY crap you find in homes.
This morning when the baby woke me up at 5 a.m. just from hormones (I am running on a temperature akin to an oven these days), to kicking me in places I shouldn’t be able to be kicked internally, I finally gave up after an hour and a half of fighting this awakened state, and went downstairs to watch TV at 6:30 a.m. on a Sunday until everyone else woke up.
I was watching Income Property with “Jerry and Amee”, who just bought a house for $400,000 and moved in 2 weeks ago but are in such dire financial straits that they simply NEEDED to start renovations ASAP because as Jerry put it:
“We need it [the renovations to get a tenant to rent] because we can’t have this [house] without it, to break even.”
You can’t afford the house but you bought it anyway, are going to sink MORE money into renovations and then hope that someone will rent your fancy basement for 12 consecutive months, for the rest of your 25-year mortgage (I am blithely assuming that’s what they took because it’s obvious they just took the maximum mortgage they could).
You’re an idiot, Jerry.