4 ms·
Rent to buy is a good strategy because you can justify to yourself living in a crappier place than you would want to own outright. Over time that allows you to
by vp8989 6y ago
Rent to buy is a good strategy because you can justify to yourself living in a crappier place than you would want to own outright. Over time that allows you to purchase a house at a lower total outlay, including the rent you paid. During that saving period you also had the additional hard to quantify benefit of being able to move quickly and cheaply.
If you are doing rent to buy but living in frothy areas where rents are always rising and apartments rent for 4k then obviously it's not going to be a winning strategy for you.
- freeone3000 6y agoEvery area is frothy. You live where you have to live to work where you can find work. The assumption of this saving period is also fairly strong. It only makes sense if you're earning $60k a year or more, and actually can afford to spend less than a third of your income on rent.
- WarOnPrivacy 6y ago> Every area is frothy. IKR? What is it with leaving reality out of these equations?