4 ms·
Should be cost of buying a home, which I guess is implied.
by Geonode 4y ago
Should be cost of buying a home, which I guess is implied.
- moistly 4y agoIt’s more than just buying. There’s a fair cost to maintaining a house, especially if it’s more than a decade old. Exterior paint, roofing replacement, carpeting, more painting, inevitable plumbing issues, furnace replacement, bathtub surround refurb, windows need replacement every decade or two, lawncare… it is literally endless and expensive.
- chiefalchemist 4y agoAnd time. All those things take time. Also, ppl tend to think about the cost of their home as the closing cost. That's false. It's the total cost of the mortgage. That's what you pay. That's what it costs. Now, factor in opportunity cost and the delta widens even further. That said, there's certainly something to be said for the stability and certainty of ownership*, but the idea that owning financial beats renting is a misrepresentation of owning. * See Matt Desmond's "Evicted" for more insights (and empathy). https://www.evictedbook.com/ https://www.evictedbook.com/
- Geonode 4y agoI just meant the article is referring to the whole expense of buying, I hope the costs after being paid off never reach the cost of rental.