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Comment by lettergram

That's actually why most financial advisers will tell you not to rent long term if at all possible. Purchasing a home (on average) will cost you nothing in the long term because you can refinance later in life or use it as an asset for other investments.

Essentially, not a single dollar paid to a landlord comes back to you. At least a percentage of every dollar will come back to you with a mortgage. Not to mention if you buy a home, you'll often pay less than you would renting. This makes perfect sense if you think about it, the landlord is trying to make money.

Point being, buying a home is a "nest egg" which is why 0-5% down was and is a thing.

If you don't like landlords move, and buy your own home. It's really that easy and will benefit you in the long run.

parent lettergram 10 years ago

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