Have a question for you guys. I've been lurking on the forum for over a year, btw, and love the insight I get here.
So, my BF has a dilemma. we're both US citizens, but he's also dual Canadian. Neither one of us is really eager to buy a house or settle. But he thinks that that there is (for a lack of a better word) a "conspiracy" about homeownership. I agree with him because the US lets you take a huge amount of money, say 500K or more or whatever... to buy a home. And it's tax deductible supposedly. But then you're tied to having and caring for a property, you fear losing or leaving your job because you have mortgage payments to keep up with.. It's a nomad's nightmare basically. The alternative is renting for life but then you're just throwing away money into thin air.
We both think that it would be great if someone would just give us a loan for 500k that we can invest in a conservative bond or etc that grows with the economy and/or pays out dividends, but of course, no bank will ever give you that much money to play on the stock market.
So, if you want a secure future, you are left with the responsibility of buying and investing in a property.
I was wondering if you guys have any insight about this? Is taking out a mortgage worth it in the long run vs renting? We did our own excel calculations and it seems like if you take out a long enough mortgage and stick with the property for like 20 years, yeah it becomes worth it. But I'm always trying to play devil's advocate with myself so I'm looking for something missing.
Additionally, I was wondering if it's better to take out a mortgage when single or married, if that adds any benefits.
Would investing within the US, Canada or Internationally be any better?
Any information on this topic would be very helpful. Thanks in advance.
BTW, I also follow r/financialindependence so I will duplicate this post on there too.
Submitted March 09, 2017 at 08:05AM by LadyGrey007 http://ift.tt/2moUole
