Quote:
Originally Posted by Fat Charlie
If you miss several rent payments, you're out on the street. If your landlord decides to cash out or otherwise do something different, you're out on the street. If your landlord decides to not keep up on maintenance, you'd be better off heading out to the street.
Restructuring your payment to a mortgage and calling it "debt" doesn't make things worse for you- it's actually the opposite. Yes, you're paying the bank way more than the house's purchase price over 30 years, but what do you have to your name after 30 years of renting besides a shoe box full of receipts?
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My grandmother only had a shoebox of receipts after paying for a house her whole life, the house was condemned and the county repo'd it.
In terms of renting it depends, I rented a studio apartment for $240 a month all utilities included for many years.
If was the only way I know of truly reducing your expenses and saving up for a real house.
And "owning" a real house just gives you the ability to pay $200+ a month in property tax, I do not see this really as being any different than renting, at least if you are intelligent enough to rent the right size at the right price.
Land and houses are setup as pure liabilities in this country, beyond enjoyment there really is no justification for any of it.