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I don't understand the throwing money away idea about renting. Are you anticipation appreciation (good luck for the foreseeable future)? Is it the home mortga
by theBobMcCormick 17y ago
I don't understand the throwing money away idea about renting. Are you anticipation appreciation (good luck for the foreseeable future)? Is it the home mortgage deduction you're so excited about? For most people, unless they're sure they're gonna be in their home for a long time (10+ years maybe?) I'm not sure how purchasing is worse than renting.
- axod 17y agoIn the UK house prices have risen well. And personally I like staying the same place for at least 5 years.
- theBobMcCormick 17y agoI think a desire/plan to stay in one place for an extended period of time is a good reason to purchase a home. The best reason really. But I think if you're pretty uncertain about whether you'll want to spend 10+ years in 1 house it makes more sense to rent. And I really don't understand so many people have bought into this meme that renting is "throwing money away". The facts just don't seem to support that conclusion.