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The money you're not using to pay rent you mean?

• cuddlybacon 11y ago
  But instead you are paying a mortgage. Whether that is a net gain or loss depends on where you live. Where I am (suburb of Vancouver) a mortgage payment for an apartment of similar size/quality/location to what I have now is about 50% more per month.
• gozur88 11y ago
  I don't know how it works most places, but when I bought my first house my payment was almost double what I was paying to rent the apartment I vacated.
  • gnaritas 11y ago
    Houses tend to cost more than apartments, you upgraded, of course it cost more. It's generally cheaper to buy a place than to rent the same place; your rent is paying the landlords mortgage on that property + a little extra for him and buffer for time between tenants. People don't rent out places for less than it cost them unless they're desperate.
    • gozur88 11y ago
      Yes, of course. I moved from a single bedroom unit in a building with dozens of apartments to a house with three bedrooms and two bathrooms, a yard, an attic, better appliances, better carpet, and a much better kitchen. That's sort of normal, I think. You get a better standard of living for that extra money. My point was, originally, that if you're in an apartment you'll most likely be able to save for a downpayment on the sort of house on which you'll be able to afford the monthly payment. If you can't, either you're not the kind of person who saves money or there's something wrong with your math.
      • gnaritas 11y ago
        Ah, yea I didn't get that at all from your first post; thanks for clarifying.