2 ms·
I struggle to comprehend non-home-ownership as anything but throwing my money away. I've been spending under $1500/year on rent for life (not a lot imo), being
by jauntywundrkind 3y ago
I struggle to comprehend non-home-ownership as anything but throwing my money away.
I've been spending under $1500/year on rent for life (not a lot imo), being kind of picky & lucky about living with roommates at many points. I realize I'm going to have to spend well over 2x as much for a house, monthly, after a huge down-payment (hoping to avoid HIP but we'll see).
But even if it isn't an investment, it's not throwing rent money away. I realize there's a couple thousand a year in property tax, money needed for maintenance. But man, it just feels wild seeing money disappear as it does to rent.
- skadamat 3y agoI own a home but not for financial reasons, mostly personal. In HCOL areas, renting honestly is less risky (smaller % of your income to housing), more flexible (stay for 5 years or 1), less headache (text your landlord to fix your sink). The hidden costs, fees, and opportunity cost of home ownership usually are a bit more than renting and investing the difference in a index fund.