Quote:
Originally Posted by auctionjmm
I tell my mom this all the time. She's still a "mom" and pesters me about being a renter at 41, all while pouring tens of thousands into her home and has dealt with everything from a bee's nest in the attic that damaged some beams to wind damage on the roof and algae or moss on her siding that keeps growing back every year and requires a good power wash. Then all the cosmetic work of making the inside look like it wasn't built in 1999. Nice neighborhood, strong home values, only 26 years old, but when you run the numbers like some of those sites in your link, renting almost always comes out ahead UNLESS you are a cash buyer and the home is either new, or recently upgraded.
If you add up the true cost of a home, subtract the rent price for that area, and invest the difference in the S&P, it's incredible how much better you end up financially if you were renting. The S&P outpaces home appreciation (minus your expenses), by a longshot.
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Also, what happens when an absolute trash neighbor moves in next to you when you own vs. when you rent?
You're much less liquid trying to sell a house next to a problem neighbor who may not upkeep their property, etc. vs. getting out of a rental agreement due to a problem neighbor.