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Well you have three possibilities.
A. You die. In which case nothing matters.
B. You sell the house.
C. You live there till it's paid off.
In B, if everyone goes "Ok", you either sell it for what you owe, sell it at a price that you "Break Even" from all the money you've spent or you turn a small profit.
In all three you come out ahead had you been renting for 3-10 years. Even if you just barely get out of your loan, you at least built credit and had more living space then renting at that monthly payment would have provided.
At least I keep telling myself that. At $750 a month I am not renting a house with 2 bath, 2 bedrooms, finished basement and detached 2+1 car garage.
In C, once the house is paid off that is $$$ in your pocket each month. I originally had a 30 year mortgage at $480 a month, once I got promoted I refinanced at 3% (from 5%) for 15 years and my mortgage bounced to $750. I have less then 9 years left. So, in the unfortunate event that I'm still fucking stuck here, I'll be 39 with a paid off house. If I move in a few years, I may just keep it and rent it to Norte Dame students as I'm within biking distance of campus.
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