Quote:
Originally Posted by alexanderb
there's another school of thought in owning a house...some rich people here do not buy house but prefer to rent. imagine this...you have 200k+ cash...they believe that it would be better used in investing the money somewhere else that makes money rather than spending on a house...they choose to rent than spend money buying a house...
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It's not even that. Usually they just enjoy the ease of apartment living. They don't have to worry about lawn care or even about selling their property if they decide to up and leave.
From a financial perspective, owning is always going to be better than renting if you assume that the value of the property stays the same or appreciates because you will get your mortgage payments back in a sale.
If you're renting, you're throwing that rental payment away and will never get it back.