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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I don’t disagree. We were renters from 2014 until 2020 during the growth of Beardbrand. Gave us flexibility and options depending on what happened. After things got more stable we bought a house.
Do you think it will be financially better than renting? For the record: I've said many times buying a house is wonderful if it makes you happy. That's the point of money. Don't know why people can't acknowledge they made a bad financial move for happiness -- and that's ok
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Let me do the quick math. Looks like it's not assuming 8% return in the market. Close to break even at 3 years. After that the gap widens more.pic.twitter.com/Ngax0d7dc5
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Although, this formulation doesn't factor in an increase in rent costs or the costs of moving to different rentals. Ultimately if it's pretty close you do what you want.
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Agreed. Buying a home forces people to “invest” monthly via their mortgage payment and after 15-30 years it seems like a great investment in the rear view mirror
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PS wife and I have two, will consolidate to one when two of our sons have their own place (and put the proceeds into various startups)
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During and after college i was a renter. Got married, had kids and still continued to rent mainly to “learn” about what kind of home fits our family. After few years and by the time kids had to start school i decided to buy. Need more control over my home - did not want to...
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...depend on my landlord. Stability is what drove me. In about 5-10 years i will be looking in other options.
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What if your buying a multi family and staying in one and renting the other?
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