It’s more along the lines of “buying is generally better than renting, but there are about 100 different factors to consider.”
Comment on Houses in my area increases 82% in just 4 years
moseschrute@lemmy.world 1 month agoIs it though? My understanding is it’s more complicated than “simply better”. You need to account for property tax, home repairs, lack of mobility, housing market, etc.
EndlessNightmare@reddthat.com 1 month ago
Mojave@lemmy.world 1 month ago
My mortgage is significantly less than my last apartment down the road. $2700 vs $2100. And I get equity instead of throwing away my income to a faceless real estate corporation for no gain. Owning a house is 100% better in every way, unless you need to quickly move for some reason.
But when you do move, you sell your house for ✨ profit ✨ because the housing market only goes UP for some retarded reason.
Rekorse@sh.itjust.works 1 month ago
The main downside is you have to pay closing costs to move. That means you should plan to stay in the home at least a handful of years or else you’d lose money likely. But with the market the way it is, get a house ASAP cause its going up like a roller coaster.
I bought mine 5 years ago and its gone up 50% in value since then.