How do you guys justify paying rent? In aussie I havent done the facts but it'd be around 15-25k a year. In 10 years it'd be aroudn 200k+ how do you guys pay knowing that?
How do you guys justify paying rent? In aussie I havent done the facts but it'd be around 15-25k a year...
Do the fucking math on a $200,000 home (cheapest in my area)
$40,000 down payment + 3K in closing cost.
$5000.00 property taxes per year
$4000 maintenance
$600 insurance
First year of homeownership I am down $50,000 cash and I’ve made about $35K equity.
Unless you can pay outright cash, homeownership is a scam.
>$40,000 down payment + 3K in closing cost.
>$5000.00 property taxes per year
>$4000 maintenance
>$600 insurance
Good point didn't think of the property taxes especially.
>home "ownership"
fucking kek
Depends on how much your rent is desu. It's financially smarter to rent a shithole and invest the spare capital if you how to do it safely with enough returns. Easier just to be a slave and get a mortgage though.
Because there arent many more options when saving up for a downpayment? Not all of us are neets in our moms basement
i mean other than the fear of economic collaspe, surely the repayment on the loan will be the same as rent just a slightly higher. Also you have an appreciable asset
Yeah it “appreciates”
But you still need to put an ass ton of work when you’re preparing to sell a house. Unless you’re selling to a rich commiefornian who managed to exit scam his 5 bedroom house in the Bay Area.
Home ownership is a major scam
Home owners fell for propaganda
A house is not an asset. It is a LUXURY.
youre retarded. its a sellers market currently at least where I live in Florida. If your house is decently maintained you can list the house and it will be sold within a week if not that same day. 30 people will come to look at it the same day its posted and not only that but they will pay for closing costs too because they are that desperate.
If the market doesnt crash owning a house and making a profit is guaranteed
There are some pluses to renting vs owning.
>If you have a good landlord then you don't have to worry about maintenance. This might seem like a small thing, but wait until your house's water main breaks and you realize it's going to cost thousands to fix and you have no idea if the guy you hired even knows what he's doing.
>Less cash up front. Cash flow is a real thing and you can't always take the long term view, sometimes you do need that short term cash to get through the month or whatever.
>No additional tax burden/debt.
>Makes moving easier, instead of having to rent out or sell your own place if you want to relocate, you can sublet or break the lease instead.
Owning of course has its benefits as well, the obvious one being no rent, but if you're paying a mortgage you are basically paying rent to a bank and even after that you still have to pay yearly rent to your govt.