I’m starting to feel like there’s not much choice
wait until you hear about renting (for those of us who really don’t have a choice) - you get to be a wage slave and at the mercy of a greedy landlord…
And you get no security of retirement! Thanks ever increasing rent!
Of course not. You gotta build your landlords retirement instead.
Who needs retirement when I can just die!
by buying a house you get to be a wage slave for a couple dozen years, By renting you can be a wage slave for your whole life
By renting a home, you’ll pay 1300 a month for the rest of your life.
By buying a home, you’ll pay 800 dollars a month for the rest of your life, with the occasional 5 - 10 thousand dollars surprises every now and again.
Except in the end you can also sell that house for $600k-$900k+ at 65 years old then use half of that to rent the next 30 years and have the rest to do whatever the fuck you want.
And rent goes up. In 10 years, the mortgage will be the same.
Not true, unfortunately. Insurance and property taxes go up and payment on those is typically held in escrow with your mortgage. If you’re unfortunate enough to live in a state with a clown taint for a governor, like say Ron DeSantis, your mortgage payment could, for example, go up by $600/month this year. Ask me how I know.
Insurance and property taxes aren’t part of the mortgage outside of an escrow account, so yes, it is true.
Regardless, the point is still that rents will increase a lot more than monthly overhead for owning.
Florida has a really great Homestead though, capping your property tax increases to 3% per year. For the insurance, you can probably get Citizens, which isn’t great but it’s something.
So long as the government continues to exercise control over supply to ensure that your investment goes up. There are places like Japan where the value of your home decreases over time because they build new housing when its needed.
Don’t you need a large down payment?
Either way, you end up slaving away for someone else’s profit. Either a landlord or a bank.
Eh, owning land is the closest thing a regular person can have to a real investment. I bought a shitty house back in 2019 and sold it recently without having made any improvements to it at all, yet it sold for enough money to offset all of the mortgage payments I’d made since purchasing it. Sure, all it did was make me break even on housing, rather than actually profiting from it, but that’s a hell of a lot better than 4 years of $1,000+ rent payments a month down the drain. I’d likely have made a decent profit if I’d done anything to fix it up.
I used the money from the sale to buy an actually decent house in a better neighborhood that I’d never have been able to afford back in 2019, even though my financial situation has stayed pretty much the same. And this house will likely sell for an actual profit in a few years if I decide to move again, while being a great place to live in the meantime to boot.
Fuck the economy, buy a condo!
what if you tried squatting some properties instead?
