I've owned for 2 years, and I'm at the point where I think I regret owning. Property taxes are going up , the insurance industry is trash, and home insurance has gone up 20% on average. Both combined make your mortgage go up... And now I need a new roof. What's the point ?
The only pros I can think about with owning are property interest write-off / tax breaks and hope that you can sell the house in 10+ years and get a decent amount of money.
With renting, all you have to worry about is rent going up, but with the cost of maintenance to own renting is probably cheaper anyway.
I feel like I made a mistake owning because I'm just losing more money than if I would have just rented.
Edit : To provide more context, I own a multi unit and live in one unit, so I collect $1100 in rent a month, so that helps with covering the mortgage... which is going up $75 this year. So my overall expenses are cheaper than if I would of bought a SFH but im still getting fucked sideways on repairs.
Submitted April 11, 2024 at 01:47AM by SillyRecover https://ift.tt/l3bWYKg
