Yeah I “fell” for it cause I can’t afford a house/don’t have parents that can help with a down payment. But seeing how much shit my homeowner friends have to deal with makes me honestly pretty grateful not to be a homeowner.
I know there’s downsides, but I don’t want kids and am locked in at COVID pricing, so I don’t really care for purchasing anything either.
Not necessarily. All else being equal, mortgage + property charges + maintenance + tax is usually quite a bit more than rent. The issue is that renters almost never save or invest that delta, they spend it.
I basically bought my first (only) house for 0 money down with first time homebuyers stuff. Ya I had to pay mortgage insurance for a while but my mortgage payment is less than what it would be to rent the same house by like, a lot.
Renter-brain. Kinda like a horse that’s been trained to believe it’s tied to a post so you only gotta drape the reigns over the post and they think they’re trapped.
And renters miss the fact that by intelligently investing the renter’s dividend that I mentioned they could usually make a much better return than they can by investing it in their own property. Almost none of them even save that money, let alone invest it smartly.
Anyway, this debate is boring. Everyone is entrenched in their views.
Renting. An inescapable financial burden.
Did you fall for it because it was hyped or because you couldn’t afford to buy?
Sometimes it is hyped because of the “freedom” aspect.
In some countries, it’s not even a bad idea because there are a lot more renter protections.
Yeah I “fell” for it cause I can’t afford a house/don’t have parents that can help with a down payment. But seeing how much shit my homeowner friends have to deal with makes me honestly pretty grateful not to be a homeowner.
I know there’s downsides, but I don’t want kids and am locked in at COVID pricing, so I don’t really care for purchasing anything either.
Not necessarily. All else being equal, mortgage + property charges + maintenance + tax is usually quite a bit more than rent. The issue is that renters almost never save or invest that delta, they spend it.
“Wait? The world isn’t the US?!”
You’re missing the value of property going up over time
And the fact that those payments are technically going to yourself and the ownership of your own equity.
And the fact you need tens of thousands of moneys to buy a property, versus whatever rent is.
There’s these things called banks. And many states have first time homebuyers programs that will help with the down payment.
I basically bought my first (only) house for 0 money down with first time homebuyers stuff. Ya I had to pay mortgage insurance for a while but my mortgage payment is less than what it would be to rent the same house by like, a lot.
Renter-brain. Kinda like a horse that’s been trained to believe it’s tied to a post so you only gotta drape the reigns over the post and they think they’re trapped.
And renters miss the fact that by intelligently investing the renter’s dividend that I mentioned they could usually make a much better return than they can by investing it in their own property. Almost none of them even save that money, let alone invest it smartly.
Anyway, this debate is boring. Everyone is entrenched in their views.
Depends on where your at.
My mortgage doesn’t go up every year, but rent always does! I now pay significantly less than the average rent in my area. Fun times.