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> And the difference between rent and mortgage as a monthly payment isn’t that far for same-lifestyle That doesn't seem to be true in the Bay Area which has a
by klipt 5y ago
> And the difference between rent and mortgage as a monthly payment isn’t that far for same-lifestyle
That doesn't seem to be true in the Bay Area which has a very high buy/rent ratio because everyone expects housing here to be a great investment. The property tax alone on a townhouse can be higher than the rent on a similar apartment.
And property tax, mortgage interest, HOA fees/utilities like garbage and water, are pure expenses like rent, not investments.
- sgtnoodle 5y agoAnecdotally, I live in the bay area and bought a house 4 years ago in a very desirable location, and my mortgage + property tax is cheaper than the equivalent rent would be.
- jjav 5y ago> And property tax, mortgage interest, HOA fees/utilities like garbage and water, are pure expenses like rent, not investments. You're paying for all of that when renting as well, so not a differentiator.
- klipt 5y agoIt is a differentiator if those things would add up to more than rent. In that case renting is literally saving money that you can e.g. put into the stock market instead of real estate.