this post was submitted on 05 Dec 2023
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I'm starting to feel like there's not much choice (lemmy.world)
submitted 11 months ago by Custoslibera@lemmy.world to c/memes@lemmy.ml
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[–] kandoh@reddthat.com 7 points 11 months ago (1 children)

By renting a home, you'll pay 1300 a month for the rest of your life.

By buying a home, you'll pay 800 dollars a month for the rest of your life, with the occasional 5 - 10 thousand dollars surprises every now and again.

[–] Pyr_Pressure@lemmy.ca 8 points 11 months ago (2 children)

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.

[–] JPJones@startrek.website 4 points 11 months ago

And rent goes up. In 10 years, the mortgage will be the same.

[–] kandoh@reddthat.com 4 points 11 months ago

So long as the government continues to exercise control over supply to ensure that your investment goes up. There are places like Japan where the value of your home decreases over time because they build new housing when its needed.