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Most people can't afford to buy. Buying a house/apartment generally requires a 20% down payment, inspections, lawyer fees, realtor fees, and a shit ton of paper
by bufferoverflow 7y ago
Most people can't afford to buy. Buying a house/apartment generally requires a 20% down payment, inspections, lawyer fees, realtor fees, and a shit ton of paperwork, and that's assuming a bank will even loan you money at a reasonable rate.
- Frost1x 7y agoPlus, home ownership also reduces your mobility. With rent I have a lease I can typically sublet or end. If not, I'm at most liable for the remainder of the lease. If you ever want or need to move, you have the liability of selling your home, managing a mortgage plus rent, etc. on-top of finding a new position, moving, and everything surrounding the act. The obvious downside is you'll never get any ROI beyond having a place to live like you may with property ownership. Homes are great when you have financial stability and freedom but can become a big shackle if you don't.