There are a few things to consider that you might have overlooked. First of all, if you finance, the mortgage interest may be deductible. Also the property tax part of the dues may be deductible.
Also figure in the "salvage value." Let's say you use it for the 17 years and then, at age 70, decide you don't want to anymore. Well, it is paid for, but has 19-31 years worth of points left. Most likely, you could sell in 2023 and get a good deal of that initial investment back. You've already "broken even," so that sale is sort of like pure profit.
Also figure in the "salvage value." Let's say you use it for the 17 years and then, at age 70, decide you don't want to anymore. Well, it is paid for, but has 19-31 years worth of points left. Most likely, you could sell in 2023 and get a good deal of that initial investment back. You've already "broken even," so that sale is sort of like pure profit.
