3 ms·
You can usually sell a house for more than you put into it. Mortgage and rent are usually comparable (I find rent is usually more). Rent is not an investment at
by ctdonath 13y ago
You can usually sell a house for more than you put into it. Mortgage and rent are usually comparable (I find rent is usually more). Rent is not an investment at all, as you'll get absolutely nothing back when you leave. Even for worst cases like buying at peak, paying for maintenance, selling low, interest costs as much as the house, etc the result is you still get a big check back; a lousy investment is one thing, knowing you won't get anything out of it but momentary use is another.
And methinks the biggest "investment" value of all: when you own it outright (may I recommend you suck it up, get humble, and pay cash up front), it's yours and nobody can evict you. Knowing you'll have a safe place to sleep is huge. Yeah, property taxes exist (far less than rent, which you're paying in your rent anyway), and eminent domain may screw things up (unlikely if you choose wisely), but it's far better than risking receipt of a notice saying "sorry, but we've sold the building which will be demolished next month".
If nothing else, buy a $10,000 property somewhere (see zillow.com) and DIY build a $20,000 small house on it (lots of options available, search "tiny house"), cash as you go. If I'd have a do-over, I'd go that route no question.