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Is It Better to Rent or Buy? It's a Trick Question
- kwertyoowiyop 4y agoThe typo in the headline really inspires confidence.
- EddieDante 4y agoWhen I rented, I was paying rent to some asshole who could refuse to renew the lease for any number of arbitrary reasons, and I was subject to annual rent increases whether I was getting pay raises or not. When I bought, I started paying rent to a bank that didn't give a shit what I did in my own home as long as I made my payments on time. With a fixed-rate mortgage I need never worry about my monthly payments getting jacked up.
- simonblack 4y agoIt's a trick question because the only way you can accurately answer the question for any particular rent/buy question is a long way in the future. Most people just look at the expense side of things at the present time. But you can only get a true picture of costs and benefits in retrospect. You can only hope that your cost-benefit analysis will be in the black, rather than in the red. Whichever one you pick 'Just Right Now' is a gamble. And then again, the government can upend your plans completely by changing the rules on a mere whim.