01-26-2017, 11:21 AM
(01-26-2017, 11:14 AM)Canard Wrote: I just can't ever imagine spending twice as much on rent per month compared to what we pay on our mortgage (which will be finished in <10 years, then we live for free) makes any sense, at all. It really seems like it is cut and dry, to me! But I hate money and banks, so this is the only thing we have a "loan" for (pay everything cash, including our cars).
But, really, it's not "for free". I have done the math, and several friends have done the same, and the annual costs of owning a house (maintenance, landscaping, utilities, property taxes) are substantial. And if you did NOT own a mortgage-free house and rented instead, you could invest $300K (or whatever) and earn a return on that.
Personal preferences are different. Yours is ownership, and that's fine. But renting really can make a lot of financial sense, and a many people do prefer that, even if they could afford to buy.