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The financial arguments assume one only pays the minimum mortgage payment amount. Many people add a bit extra each month which can quickly turn a 30 year mortga
by code4tee 8y ago
The financial arguments assume one only pays the minimum mortgage payment amount. Many people add a bit extra each month which can quickly turn a 30 year mortgage into a 9-12 year mortgage.
It also ignores many of the other benefits of owning, such as having a lot more say over what you do with the propert and not always having to worry about rent increases or what happens when the lease ends.
The rent vs buy equation is never black and white but this article comes across as quite one sided.
- dyarosla 8y ago"...and honestly sounds like someone trying to justify their decision to not own property." The author literally states that they are a homeowner themselves.
- saosebastiao 8y agoNot just a homeowner but a real estate investor. https://affordanything.com/how-we-made-43211-67-in-passive-income-from-real-estate-in-2017/ https://affordanything.com/how-we-made-43211-67-in-passive-i...
- flukus 8y ago> The financial arguments assume one only pays the minimum mortgage payment amount. They also tend to ignore that mortgage repayments remain static while rent goes up, that interest payments goes down if you pay in advance (offset accounts) and that once it's all payed off your rent is $0. A mortgage for a home within my means is one of the best financial decisions I've ever made.
- usaar333 8y ago> The financial arguments assume one only pays the minimum mortgage payment amount. Many people add a bit extra each month which can quickly turn a 30 year mortgage into a 9-12 year mortgage. Wouldn't that actually make the trade-off worse as instead of putting money into a high-return asset (stocks) you directed it to a lower-returning asset (housing)?