3 ms·
Edit: It's worth noting that a $1000 mortgage is a shitload better than $1000 in rent. Not necessarily, as there is a marginal utility involved with owning a h
by brg 16y ago
Edit: It's worth noting that a $1000 mortgage is a shitload better than $1000 in rent.
Not necessarily, as there is a marginal utility involved with owning a home versus renting that this statement does not account for. For instance in a rental there is no lawn maintenance required, no responsibility for repairs or upgrades to either major appliances nor infrastructure, rental incurs decreased liability, and the availability by location and public features is often greater.
I am a home-owner, but the belief that rental payments are a waste of capitol is a myth.
- starkfist 16y ago$1000/mortgage is not always better than $1000 in rent. I have family members who have $1000 mortgages in the middle of the country, and make about $38,000 per year. Similarly I have friends who have remained in rent-controlled apartments in NYC for LESS than $1000 and make over $150,000 per year.
- smallblacksun 16y agoAlso, the renter doesn't pay property taxes (directly, anyway), while the homeowner does.
- jacquesm 16y agoThat depends on the country.