Quote:
Originally Posted by Alex from Montreal
There more to house expenses than paying a mortgage. You also have to consider paying taxes, utilities, insurance and repairs and maintenance, and these expenses will continue to rise in time.
Also, renting an appartment is quite less than the sum of all the expenses of owning a house. If the person is discipline enough to invest the difference, I think he/she will be better off at retirement than the home owner.
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Invest the difference? What difference?
The rent you pay on a house or apartment is usually more than the mortgage would cost to buy the property. Otherwise how does the landlord pay the mortgage.
Plus your rent will go up every year, your mortgage payment will stay the same until it's paid off.
Sure insurance and maintenance costs rise every year, but they're a small fraction of overall ownership cost, the mortgage is always the biggest expense and once you buy it's a fixed number.
But you keep paying rent bro....come tell us how rich you are in 30 years from "investing the difference"
