Not necessarily. All else being equal, mortgage + property charges + maintenance + tax is usually quite a bit more than rent. The issue is that renters almost never save or invest that delta, they spend it.
I basically bought my first (only) house for 0 money down with first time homebuyers stuff. Ya I had to pay mortgage insurance for a while but my mortgage payment is less than what it would be to rent the same house by like, a lot.
Renter-brain. Kinda like a horse that’s been trained to believe it’s tied to a post so you only gotta drape the reigns over the post and they think they’re trapped.
Not necessarily. All else being equal, mortgage + property charges + maintenance + tax is usually quite a bit more than rent. The issue is that renters almost never save or invest that delta, they spend it.
You’re missing the value of property going up over time
And the fact that those payments are technically going to yourself and the ownership of your own equity.
And the fact you need tens of thousands of moneys to buy a property, versus whatever rent is.
There’s these things called banks. And many states have first time homebuyers programs that will help with the down payment.
I basically bought my first (only) house for 0 money down with first time homebuyers stuff. Ya I had to pay mortgage insurance for a while but my mortgage payment is less than what it would be to rent the same house by like, a lot.
Renter-brain. Kinda like a horse that’s been trained to believe it’s tied to a post so you only gotta drape the reigns over the post and they think they’re trapped.
“Wait? The world isn’t the US?!”
Depends on where your at.
My mortgage doesn’t go up every year, but rent always does! I now pay significantly less than the average rent in my area. Fun times.