Ah, I see. Wasn’t meant to be a direct comparison so much as looking at your own options.
The upfront cost of a down payment is the largest hurdle, for sure. None of it is easy or fair, it requires having savings despite capitalism underpaying and overcharging us. There isn’t a trick to it or anything it is also down to whether you have the luck and circumstance.
One thing to consider in your calculations is that your mortgage also builds equity. If you rent and need to move, you lose all of your rent. If you have a mortgage and move or get foreclosed you get a chunk of that money back.
Ah, I see. Wasn’t meant to be a direct comparison so much as looking at your own options.
The upfront cost of a down payment is the largest hurdle, for sure. None of it is easy or fair, it requires having savings despite capitalism underpaying and overcharging us. There isn’t a trick to it or anything it is also down to whether you have the luck and circumstance.
One thing to consider in your calculations is that your mortgage also builds equity. If you rent and need to move, you lose all of your rent. If you have a mortgage and move or get foreclosed you get a chunk of that money back.