If you’re in the wealth accumulation phase of your life, I think buying a home is a terrible decision (in most cases). Prove me wrong. Seriously. I’m not being rhetorical. I want to see if there’s math that says otherwise.
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Equity. Appreciation.
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Not sure what value averages plays, particularly with a fact-sensitive inquiry (market, timing, etc.)
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You can pay 2k in rent or 2k to a mortgage. The former provides some ease in terms of maintenance, but the latter provides equity. When you’re faced with spending similar amounts, choose the one that provides upside. It’s a fairly straightforward risk proposition.
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You’re not considering maintenance expenses, taxes, insurance, etc..
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An alternative strategy is to rent and then buy an investment property, that can create passive income (which is the end goal). Homes generally shouldn’t exclusively be treated as assets, but more so as liabilities, but it still presents upside.
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There isn't one. Unless you buy it to rent it out. And take the rent income to go rent your own resident. I know it sounds stupid but if you do it right. You may end up living for free and making money gas money in the process
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Depending on where you live, you generally have to pay income taxes on the rental income. FYI.
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