3 ms·
if I rent for 10 years or I pay a mortgage for 10 years, then at the end of the 10 years I have likely paid less in mortgage payments than I would have paid in
by celticninja 7y ago
if I rent for 10 years or I pay a mortgage for 10 years, then at the end of the 10 years I have likely paid less in mortgage payments than I would have paid in rent payments. further if I sell my property then it is likely that I could recoup some or all of my mortgage payments, I definitely can't do this with my rent payments.
- jakear 7y agoPeople always talk about how “you pay more in interest than principle for the first X years” but seemingly forget that you pay some principle always, versus never paying any principle renting. And in my area (Seattle), the rent vs. mortgage monthly prices aren’t all too different, but with mortgage you get some of it back, plus appreciation. But I won’t fight too hard against people being pro-rent, as my family makes a good chunk of change off of them :)