6 ms·

I rather pay a rent than putting 250k on a down payment and still have to pay a rent amount for 15-25 years.

• mavhc 1y ago
  But you're then left with owning something probably worth more than you paid in total
  • lesuorac 1y ago
    It's not. Buy-vs-rent is nearly always monetarily in favor of rent. 250k down payment is ~20% of 1.3 million which at ~6.5% comes out to you paying ~2.4 million. This doesn't include maintenance, insurance, or taxes. I have a bunch of calculators in this post (https://news.ycombinator.com/item?id=44794529 https://news.ycombinator.com/item?id=44794529) but that thread also has a lot of other people explaining the same thing.
    • hu3 1y ago
      Exactly. Buy is more of a peace-of-mind than financial decision.