People share why they rent their home vs. buy

8.

“I would rent to buy because of the total cost. First, you have tens to hundreds of thousands of dollars in interest — which is all you pay in the first several years which means you’ll be upside down for a long time. After that, some people seem to forget that you need to set aside what At least 2% for the maintenance fund because something is going to happen. I haven’t found a loophole when the time comes (Oh, and they’ll try so hard to find one). After that, you’ll always have to pay property tax. And of course, a mortgage that requires a 30-year commitment which is what It’s like half your adult life (sure you can resell it, but your actual earnings after deducting all the money you spent maintaining it will be less than you think.) Meanwhile, the thing you invested so much money in is slowly rotting away.”

“Right now, I save thousands a year by renting on my own (even after factoring in the tax savings for buying a home here), not to mention money I don’t have to set aside for everything else. You can make 2%+ each year by investing money in an index fund.” , 3-4% annually by putting the money in a high-yield savings account, and 3-6% of the company matches a 401k. One side definitely looks better than the other to me.”

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