Why I Pay Rent VS Buying My House

Today I make the case as to why I chose to rent the home I live in instead of purchasing it... Instagram: @BOWLES

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Why I Pay Rent VS Buying My House

Today a real life millionaire breaks down the true costs behind renting a home versus owning one.

It is popular culture to believe that owning a home is a good investment, however it doesn't always make since to be buying. Renting has many pro's along with many con's.

Your first question should be based around how long you intend on living at the home that you would either purchase or rent. A typical rule of thumb is the 3 year mark. If you plan on staying in a home for under 3 years, it typically makes more sense to rent.

The costs of owning a home primarily include:
- Down Payment (tying up capital)
- Property Tax
- Any Maintenance To The Home
- HOA/Association Fee's
- Yard Maintenance

These are just a few of the things to consider before purchasing a home, because renting avoids most of those costs. Yes, you can considering it as "paying someone else mortgage", but you are also avoiding many of the costs and potential costs that come as a homeowner.

I hope this helped, leave a LIKE if you enjoyed!
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*Disclaimer* I am not in any way a certified financial advisor, nor do I pretend to be one. Any information or advice I give you on any social media platform is simply my opinion based my own own experience and research. There is no guarantee on anything due to the fact that there are many variables that play a factor in your success. Do your own research, do the work and take everything as an opinion.
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