3 ms·
Rent is easily comparable to a mortgage, my old rent is $3750, my new “rent” including property taxes is $3040.
by _3u10 5y ago
Rent is easily comparable to a mortgage, my old rent is $3750, my new “rent” including property taxes is $3040.
- listenallyall 5y ago> I’m $750 a month up on rent and I’m $123,000 up on equity since May. That’s $123,000 in completely tax free income if I sell. All of HN is really happy for you. You're the man! So smart, and handsome too!
- jjav 5y agoAlso, keep in mind rents only ever go up (barring a major economy crash) and mortgages only ever go down or stay same. Long time ago when I was renting, my rent (Silicon Valley) was $1200. I bought a very similarly-sized house and my monthly costs went up to ~$3000. So it hurt for a little while. In just a couple years I had refinanced down to a sub-$2000 mortgage and the rent on my previous place was up to $1500. Getting close to even already. Couple decades later, rent over there is up around $5000 and my mortgage has been refinanced down to $800. By the time I'm retired my mortgage will be $0 and rents might be $8000 or more, let's see what future inflations brings. My advice to anyone early in their career, just buy a home as soon as you can. It'll hurt initially for a few years but you'll set yourself up for a lifetime of being better off than renting.