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 10 months 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 10 months ago
Mojave@lemmy.world 10 months 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 10 months 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.