Sending the bill for sewer disasters, worn out central air, washing machines, dryers, dish washers, start off 20k in the hole with closing costs on both sides of tranaction. Water tax. Elecritity. Heat. Lawn Maintenance. Homeowners insurance, the roof needing to be redone...
Of coure if youre staying 40 years, a house is better.
If you’re looking at 10, renting is
Some truth to that - first house I bought I lived in for 18 months and made $14K off of - I did no work on that house. Profit was due to market changes.
Second house was a wash - I only painted that house (in and out) - Jimmy Carter was president so it was hard to move. Lived there about 5 years.
3rd house - a fixer up, paid 33K - sunk about 50k into it and sold for $130k - lived there 11 years.
Current house - I paid $175k for and I put it around $250k now based on what the neighborhood houses are selling for. (I’ve been here 15 years) I have 2800sq ft, a pool and pay less than $550/month payment - my son pays $1100/month for an 800sq ft apartment.
I do have taxes, but there’s no way I could rent a place equivalent to what I live in for what I pay.