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Depends on your situation. For example, I bought a house and my mortgage+insurance+repair amortization is less than I'd pay for renting a similar sized apartmen
by BobbyJo 4y ago
Depends on your situation. For example, I bought a house and my mortgage+insurance+repair amortization is less than I'd pay for renting a similar sized apartment or home. I had to lock up 30k in my down payment, but I'm saving $500+ (probably closer to 1000) a month vs renting. That's equivalent to 6k a year, or >20% return on my investment.
- bombcar 4y agoBe sure to save that extra money, houses have a way of turning you into a cash machine for Home Depot holy shit there's always something to fix or spend money on
- disgruntledphd2 4y agoOwning a house is essentially like having a bottomless pit to throw all your excess money into. I didn't really appreciate the advantages of renting until the dishwasher and the oven broke in the same month. Don't get me wrong, you spend that money on stuff you use, but the TCO is much higher than the mortgage payment.