[mgce]

> Living in a present-day million-dollar home for a net cost of $500k over 30 years is a great deal. That’s a little over $1000/month on average. Where can you even rent an apartment at that price these days?

Can you clarify?

A $1 million purchase at 5% interest on $800K is $4,300 / month. Plus maintenance and taxes.

Where does the $1,000 vs renting apply?

[syndicatedjelly]

No I was just talking about that “net cost” number the original post came up with. After all expenses, interest, and sale of the house, they were claiming they would lose $500k over the lifetime of owning the house.

[chenster]

$500K is BEFORE sell the house with capital gains. If you do decide to sell, the number is $3750/month average costs per month to living the house you own after 30 years. Still better than renting, but not as most of home owner had imaged.

[syndicatedjelly]

I think you need to revisit your math. None of your final numbers make sense.

[mgce]

I see. Thanks for clarifying.