How is renting worse than owning a home financially (if you can afford it)? Obviously you get a lot more space and freedom with a house. But if I am "minimalistic" in what I have and do, I dont' need a ton of space.
Rent at my current apartment is about $12,500 per year + utilities. Small studio but enough for me. Though parking sucks. Utilities are around $50-75 depending on season, per month.
Taxes + insurance on a house I'm considering alone will be about $10,000. Utilities will probably be around $100-150 Im guessing, per month. Parking situation will be much better.
Would this be a dumb decision to buy a house? I will also try to get roommates in there, which will obviously tip the scale to buying a home much more. But otherwise, how would this make sense financially? Square footage will go from 600 to 2500 though. And house will appreciate of course.
Submitted October 10, 2024 at 12:44AM by DoctorQuinlan https://ift.tt/NDKYOP1
