Quote:
Originally Posted by DamageX
As long as the total amount of house payments (mortgage + interest) is lower than or equal to the total amount of rent you'd pay during that same period, a house is a great deal. Even if it depreciates in value by 90%, you still have 10% more left than if you had been renting the entire time.
Assuming, of course, you'd have the same space and standard of living in your own house as you would in a rental.
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That sounds like a very logical way of thinking and I totally agree
Either you rent and basically throw your money away since you are not building equity, or you buy something that is up to your standard, that you can afford and that will not cost you more than a rent. Even if it depreciates, you are still better off in the long term than renting.