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If your conclusion is that renting is better in the long run, then I'd argue that your run isn't long enough. The article only used an 8 year home ownership pe
by Sohcahtoa82 2y ago
If your conclusion is that renting is better in the long run, then I'd argue that your run isn't long enough.
The article only used an 8 year home ownership period. If you move every 8 years, then yeah, maybe renting is better because paying closing costs of a mortgage every 8 years adds up, not to mention for the first couple years of a mortgage, 60-70% of the payments are just going to interest.
But if you're going to live in a house for 15+ years, I can't possibly see how renting works out. Even if you invest what you save by renting, rents rise, and eventually the rent will exceed what your fixed mortgage payment would have been had you originally bought, and that money you invested starts to vanish.