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by potatolicious
5111 days ago
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> "Rent or buy, you're still out on the street if you stop paying." Not true at all. Buying means you've committed to a particular lifestyle, city, and income level for a very, very long time. Renting carries none of these commitments and risks. If I lost my job today I wouldn't be anywhere near screwed - my lifestyle can be downsized a lot in very short order (on the order of 1-2 months to reduce my burn rate by 5x). This freedom is important to me. Right now I'm in the middle of a relocation - I want to experience a new place, with a different pace and different culture. I wouldn't be able to do this if I had bought property. If I wanted to bootstrap a startup I can easily move into a much, much cheaper place and immediately free up a lot of capital. |
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Well yes, it's true that if you stop paying your rent or mortgage you will be evicted. Although you're safer in a house you bought because the bank has to foreclose first.
> Buying means you've committed to a particular lifestyle, city, and income level for a very, very long time.
Depends on your definition of "a very, very long time". 5 years is the accepted minimum threshold for buying a place, and if you did your homework properly you should be able to break even renting it out. There was a time when 5 years seemed like an eternity to me, but not these days :)
> This freedom is important to me.
This is the important bit. There are 1,000s of rent vs. buy arguments all over the internet but IMO it comes down to what you want for yourself. That freedom to move about at will is important to you, so it sounds like you've made the right choice for you. I like where I live and I despise moving, so buying was right for me.