Quote:
Originally Posted by Tasty1
Last 10 years i lived in Thailand, Brazil, Argentina, Mexico, Vietnam, Cambodia, Curacao, Bonaire, Surinam, Colombia, Holland, Spain, India,... Most will need to sell their house with big profit to be able to do that.
Most people don't have cash for a house and need a 4 - 6% mortgage. 1% used to lower your debts, rest for the bank. House of 300K, so the bank gets about 1000 euro per month doing nothing. While you pay tax and make costs to keep their property in condition.
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If you plug any interest rate you could get from a lender into https://www.amortizationtable.org/ your equity increases much better than that.
Your nomad lifestyle is great and I think everyone should see the sun set in different places. Travel and really living other places is key to understanding the world.
But I think, in most economic situations, everyone should own at least one house for financial security. You always have a place you can go and you get rental income when you are not going to live there.
Most people will not want to travel full time.
And a mortgage is paid off at a certain point, while rent is throwing away your dough forever.