Is it ever a big mistake to keep renting? I've come across many threads about mortgages (too big?), when to buy (now vs rent for several yrs) etc but are there any folks that are long term renters here?
Renting in a nice new building has its pros and buying a nice house with a yard also has its pros, but it's a difficult comparison for me as both are equally appealing. Also, because of this, the rent vs buy calculators arent quite an apples to apples comparison (apt in a nice building vs house and not renting a house vs buying a house) because I wouldn't want to rent a house.
Are the only downsides not being able to take the mortgage deduction and missing out on appreciation?
The thought of being shackled with a 15 or 30 mortgage is also unappealing.
Renting in a nice new building has its pros and buying a nice house with a yard also has its pros, but it's a difficult comparison for me as both are equally appealing. Also, because of this, the rent vs buy calculators arent quite an apples to apples comparison (apt in a nice building vs house and not renting a house vs buying a house) because I wouldn't want to rent a house.
Are the only downsides not being able to take the mortgage deduction and missing out on appreciation?
The thought of being shackled with a 15 or 30 mortgage is also unappealing.
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