this post was submitted on 05 Dec 2023
390 points (95.6% liked)
Memes
45902 readers
1268 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Except in the end you can also sell that house for $600k-$900k+ at 65 years old then use half of that to rent the next 30 years and have the rest to do whatever the fuck you want.
And rent goes up. In 10 years, the mortgage will be the same.
Not true, unfortunately. Insurance and property taxes go up and payment on those is typically held in escrow with your mortgage. If you're unfortunate enough to live in a state with a clown taint for a governor, like say Ron DeSantis, your mortgage payment could, for example, go up by $600/month this year. Ask me how I know.
Insurance and property taxes aren't part of the mortgage outside of an escrow account, so yes, it is true.
Regardless, the point is still that rents will increase a lot more than monthly overhead for owning.