this post was submitted on 05 Oct 2023
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Unless monthly payments on renting from the bank are lower than renting from someone else it’s a worse deal. If you rent you don’t need to worry about things like replacing roof, windows, etc.
Also, if you rent you’re more free to pick up and leave vs. being tied to a mortgage.
It can, if you make good money, says 6000$ after taxes per month, you can rent at 1500$ and invest 2 or 3k per month and it can be better than having a mortgage for a big house and paying like 4k/month, I think.
In the past when. I've done this calc renting was worth it till you'd lived at a place for about 5 years. Don't think this flat statement is true even now