Rent or Buy House?

nova

New Member
Life can be pretty unsettling latley with corona and other stuff. So you can see that renting is a bit difficult these days. And so buying the house is one decision that I have not taken. So I am thinking about such option between the two.

What is your approach in such case? Which one would you choose?
 

aeowulf

New Member
I think every area is different (think LCOL area vs. HCOL), but ultimately it depends on peoples situation. Renting is easier and smarter for some. For most though, buying is the smarter long-term game. Eventually, the house will be paid off. The mortgage should stay mostly the same as inflation rises. Mortgages are also cheaper per month (most cases, see comment above about HCOL areas).

The biggest benefit? Equity. When I sell my current house, I'll walk away with $200k to put to the next house.
 
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