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REPORT ABUSIVE REPLY
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Message Subject
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Renting vs. buying a home....So difficult coming up with a down payment!
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Poster Handle
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s. d. butler |
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Post Content
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And you don't have anything at the end of x years and you are at the mercy of a land lord.
Quoting: s. d. butler Yes, this!!! I am not so much worried about the cost now. It's security and having equity that concerns me most. That's the reason I am having a hard time understanding why so many of you are promoting renting like it's a ''win-win.'' They are people who don't have anything and never will have anything. They are renters. Get a secure base first, pay it off, go on to other things. Is this really true though, that renters will never have anything? I mean, maybe it's smarter to keep renting and put money away into an RRSP, especially since the housing market is so volatile. Honestly, the more I think about it, many homeowners can become upside down or underwater in no time. In my experience it's true. Don't buy more than you can afford,if you do that it won't really matter if you are upside down. Pay it off as soon as possible. Think about buying some land and building a home yourself. There are good reasons for both sides, it just depends on you and your situation. Rent where I am is about a thousand a month. Every year you pay 12 thousand. I know what the renter advocates say but that doesn't make sense to me. Four years later I would have paid 50 K and I'd have nothing to show for it. The landlord can kick you out or demand more later on, either immediately or when the lease is up. I have never looked at a house as an investment. It can be, but you have to live somewhere. I never wanted to answer to some landlord. The key is paying the mortgage off as soon as possible. With the interest people end up paying several times what they would have paid in cash. Look at the amortization tables for a loan sometime. Just my 0002 cents worth.
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