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Houses don't last forever, you pay taxes, have to make fixes (sometimes really big ones), you need insurance and most people have a mortgage. Even if you're ab
by EA-3167 3y ago
Houses don't last forever, you pay taxes, have to make fixes (sometimes really big ones), you need insurance and most people have a mortgage.
Even if you're able to buy a house outright, and the future maintenance is no bother, who's to say that anyone in your family will want to hang on to your idea of good property? Maybe they'll sell it for cash, or turn around and rent it. The odds of a single average dwelling staying in one family for a LONG time can't be that high.
- RoyalHenOil 3y agoWhen you rent, you are still paying for taxes, fixes, insurance, mortgage, and all other costs associated with the home you live in. But you pay even more, on top of all of that, so that the landlord can make a profit. Otherwise, there is no incentive to rent the home out. If you own your own home, though, you are not paying for anyone else's livelihood: that profit all goes to you in the form of reduced living expenses. And in the end, you pay off your mortgage and now outright own an asset that can benefit your descendants for generations (whether they choose to keep it or sell it).
- ponector 3y agoWith proper care houses lasts hundreds of years. You could easily rent Airbnb in a house from 16-th century or even older somewhere in Europe.