|
|
|
|
|
|
by mattm
5111 days ago
|
|
|
> You've got a similar obligation if you rent. Rent or buy, you're still out on the street if you stop paying Not really because usually you just need to give one months notice to move out. So if you are facing hard times, it would be easy to move to a cheaper place or completely move to another place where there is more work to be found. A person that "owns" his own house would only move as a completely last resort because the costs associated with it are much, much higher. |
|
|
Depends on the terms of your lease. [1-3]-year leases are common out here, in which case you'd have a problem on your hands if you gave a month's notice.
> A person that "owns" his own house would only move as a completely last resort because the costs associated with it are much, much higher.
That also depends on the situation. If there's equity, they may make money by selling. It's impossible to compare these situations except to say that if you don't pay your landlord or bank, you're out.