Renting also can make sense for people who are not going to stay in place for long.
I've seen different analyses, and it of courses hinges on whether property values are going up, down, or staying the same, but the usual numbers I've seen are that ownership makes sense if you will be there for 3+ years.
I know cuz I did it for years. You pay 20k in fees at least every time you buy or sell if you do it the standard way
You don't have to. But then you're getting into "work as your own professional" territory, and you can slow build your own house at that rate.
Nah you can pay a landlord not to maintain their property. Who doesn't is not who you'd think it'd be. It's the highly sophisticated ones who know that properties are a pit. Rentals: you just trash until it's time to sell to someone who will gut it. Nice rentals only make sense as a temporary arrangement, and I have done that too : acting as a resident property manager / housesitter for discounted rent. Typically renting from someone who lives out of town.
Renting makes sense for people that can't afford to own.
Renting also can make sense for people who are not going to stay in place for long.
I've seen different analyses, and it of courses hinges on whether property values are going up, down, or staying the same, but the usual numbers I've seen are that ownership makes sense if you will be there for 3+ years.
Its true if you move around a lot. The issue is establishing anything if you move that much.
I know cuz I did it for years. You pay 20k in fees at least every time you buy or sell if you do it the standard way You don't have to. But then you're getting into "work as your own professional" territory, and you can slow build your own house at that rate.
Also makes sense for people who are incapable of taking care of necessary maintenance of a property on their own.
You can pay for that just like how you pay for it through renting.
You can, but even that requires some long-term thinking and coordination.
Nah you can pay a landlord not to maintain their property. Who doesn't is not who you'd think it'd be. It's the highly sophisticated ones who know that properties are a pit. Rentals: you just trash until it's time to sell to someone who will gut it. Nice rentals only make sense as a temporary arrangement, and I have done that too : acting as a resident property manager / housesitter for discounted rent. Typically renting from someone who lives out of town.