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Throwing money away in rental is far, far, far dumber. In my case I would have had to pay more money for the rental than what I’m paying now with a mortgage. Th
by tigershark 9y ago
Throwing money away in rental is far, far, far dumber.
In my case I would have had to pay more money for the rental than what I’m paying now with a mortgage.
The difference is that in a couple of years I don’t have to pay anymore and I will own an house that already doubled in price, while if I was renting my rent would have skyrocketed.
And with 50k$ in the bank I probably could have survived for 1 year here.
- moz23 9y agoThat's only true if you live in a place with an unsustainable market, i.e. permanently growing rents and house prices. There are places with stable house and rental prices, and in those - buying tends to be a worse choice financially. And many would argue that places with skyrocketing property prices are going to run into significant issues in the future (if they aren't already at breaking point, hi bay area).
- tigershark 9y agoThe comment I answered to was expressing a very narrow minded opinion on how everyone that buys an house instead of renting is doing the most stupid thing in the world. I proved to everyone that is not true and that most likely he is not as smart as he reckons if this is what he believes.