Quote:
Originally Posted by RunKC
Someone talk to me about owning vs renting. I’ve always been told my whole life that owning a home is “great bc you keep your equity!”
I’ve owned my house for almost 4 years and the “equity” I’m getting on it is shit compared to the money I’ve had to spend to fix shit in a brand new house when I moved in.
It’s to the point where I’m thinking **** it. I’m close to selling this damn house and renting so I won’t have to spend a lot of money every year paying to fix the goddamn thing.
Oh and then when I sell the goddamn thing the realtor gets 6%.
Owning feels like such a sham.
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I won’t tell you one way or the other but one thing I know for sure is if you rent, you’ll still be paying all the same maintenance costs, taxes, whatever. It will just be amortized over the whole year. You won’t write a separate check but you’re still paying for it.
FWIW if you have a loan on an amortization table (as opposed to straight line) you will not accumulate much equity early on. If you really are worried about the numbers make sure you read up on how amortization tables work.