12-06-2012, 02:40 PM
That, I think, is the ultimate goal. You don't want to live to be 80 paying rent the whole time. Long after you retire you'll still be forking over $1250/month+ (which, around here, is a modest two-bedroom apartment) on rent rather than owning and just having to pay property tax and upkeep.
Whatever you have for retirement will go a lot further if you used the good years to obtain ownership of a house.
Plus I think I about break even on mortgage + property taxes + upkeep versus renting, and I have a much nicer place.
The main argument for renting is that it keeps you mobile in a shitty economy. In a good economy you can buy and still be pretty mobile but anyone who bought a house 5 years ago isn't going anywhere without losing a lot.
Whatever you have for retirement will go a lot further if you used the good years to obtain ownership of a house.
Plus I think I about break even on mortgage + property taxes + upkeep versus renting, and I have a much nicer place.
The main argument for renting is that it keeps you mobile in a shitty economy. In a good economy you can buy and still be pretty mobile but anyone who bought a house 5 years ago isn't going anywhere without losing a lot.