You are now entering your spicy years. 🌶️

  • Eager Eagle@lemmy.worldEnglish
    0·
    6 months ago

    the thing is - there’s a lot of variables that shift the balance towards renting when looking within a time frame, even from a financial perspective.

    • how long you can stay in one place and whether that fits your needs both today and in a few decades
    • % of down payment and missed earnings if this money went towards another investment
    • interest rates
    • property taxes
    • HOA fees, if any
    • likely higher insurance rates over renting
    • maintenance costs

    In the end of the day, since many variables have a large uncertainty, that’s a bit of a gamble.

    • Saik0@lemmy.saik0.comEnglish
      0·
      6 months ago

      Finally sane people! Holy shit you’re like a unicorn.

      There are DEFINITELY cases where many people are CHOOSING to rent because they simply DON’T want to own. That’s perfectly okay. Both options have pros and cons.

      Shitty landlords do exist… But homeownership has a boatload of issues that come with it too that you simply cannot shop around for.

      I’ve owned my own house for the past 5 years. I’m in a position where it makes sense. Before that? Well over a decade of renting. And it wouldn’t have made sense any other way.

      The lack of nuance in opinion otherwise is maddening.

      • TubularTittyFrog@lemmy.world
        0·
        6 months ago

        agreed.

        vast majority of folks in the USA see renting as this repulsive awful stupid thing that nobody would ever do if they weren’t poor.

        it’s nuts. renting makes a lot more sense for a lot of situations. and vast majority don’t buy until they are married and having families anyway.

    • blackstampede@sh.itjust.works
      0·
      6 months ago

      You’re missing a few advantages to owning-

      • If you have to move, you can often get the money that you spent on the mortgage back, or even make a profit.
      • A mortgage is generally cheaper than rent.
      • While some may not be interested in renovating, it’s a relatively low-effort activity that pays for itself if you sell the property.
      • Can have a garden
      • TubularTittyFrog@lemmy.world
        0·
        6 months ago

        you can rent and have a garden and rent is cheaper than a mortgage in a comparable area.

        when people buy they often have to move further out to a cheaper area to get a mortgage

        my mortgage is more than my rent and isn’t as nearly in as nice of a place and convent of a location. on top of that and having to do home reapir (not renovation) i have less disposible income than I did a few years ago.

        it’s trade offs. i miss being in a more social area and having more disposible income, and somtimes i regret buying.