Should you buy or rent your home? I talk with Justine Nelson of Debt Free Millennials on the buy vs rent a home debate! Which do you agree with?
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Our points on buying versus renting a home:
You don’t have to worry about any maintenance fees.
That equity you’re building up grows with inflation, one of the best inflation protections ever and that’s what we need right now!
Plus you don’t have to worry about paying an HOA that goes up every year.
Buying a home and paying off that mortgage is a forced savings plan, something so many people need desperately.
I don’t have to worry about interest rates. All the amenities are baked into my monthly rent so I get access to things like a pool, a hot tub, a gym and I don’t have to worry about paying extra for any of those things.
Buying a house is a great tax shelter, saving you on the property taxes and the interest.
And the best thing I love about renting is that you can easily pick up and move whenever your lease is done. It gives you the freedom to try different places you’ve never lived before.
Buying a house and staying in a community is great stability for you and your kids.
#shorts #buyvsrent #rentvsbuy
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
