I know people who will say "it doesn't make sense to buy, I'm just gonna rent."
Basically reasons include cost of maintenance or doing work to maintain the property...
But they ignore a lot of critical info.
Like i have to repair sprinkler lines, i could have paid a landscaper to do it, and it would have cost me probably about 200 to 500.
Alternatively, i spent about 30 dollars at home depot to get supplies i needed and did the work over a few days.
I also hear the same people complain about their rent going up year after year.
My mortgage went down after refinancing. On top of that, my mortgage is a effectively a fixed amount for 30 years, so even if i didnt refinance, my "rent" (for sake of comparison) would not have changed.
Renting makes sense if your life is still in flux.
If you're planning to build a family or career tho, buying is way better.
It does get kind of rough after realizing you've spent like $80 grand over the last 5 years, and could almost own the place outright, but I get the strangest feeling these people aren't quite complaining over THAT much money.
Its a pretty valid point and a good question.
But the light bulb that should be illuminated is how stupid it is for you to pay someone else money for the things they own.
As in "Why don't i go buy a property, rent it out, and have someone else make my mortgage payments for me!"
It’s not stupid. There’s a lot of reasons why someone might need a place to live without wanting to put down roots and get a 30 year.
For temporary arrangements sure.
I know people who will say "it doesn't make sense to buy, I'm just gonna rent."
Basically reasons include cost of maintenance or doing work to maintain the property...
But they ignore a lot of critical info.
Like i have to repair sprinkler lines, i could have paid a landscaper to do it, and it would have cost me probably about 200 to 500.
Alternatively, i spent about 30 dollars at home depot to get supplies i needed and did the work over a few days.
I also hear the same people complain about their rent going up year after year.
My mortgage went down after refinancing. On top of that, my mortgage is a effectively a fixed amount for 30 years, so even if i didnt refinance, my "rent" (for sake of comparison) would not have changed.
Renting makes sense if your life is still in flux.
If you're planning to build a family or career tho, buying is way better.
It does get kind of rough after realizing you've spent like $80 grand over the last 5 years, and could almost own the place outright, but I get the strangest feeling these people aren't quite complaining over THAT much money.