346
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 29 Sep 2023
346 points (95.1% liked)
Ask Lemmy
27210 readers
1419 users here now
A Fediverse community for open-ended, thought provoking questions
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
6) No US Politics.
Please don't post about current US Politics. If you need to do this, try !politicaldiscussion@lemmy.world or !askusa@discuss.online
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
founded 2 years ago
MODERATORS
Your HOME is not an investment. Unless you're planning to sell and live in a cardboard box.
When you buy a house, you're essentially locking in your housing costs, which can be especially advantageous if you have a fixed-rate mortgage. Rent, on the other hand, can increase over time. My monthly mortgage payment for a house is already several hundreds less than what my friends are paying for their tiny rental apartments. In about 17 years, my house will be paid off, and then I'll only have maintenance and utility bills remaining, while my friends will still be paying rent, which probably has increased by quite a lot by that time. I don't need to sell my house to benefit from investing into it.
This exactly. The 2 things that affect my fixed rate mortgage are property tax, and homeowners insurance. Even those don't affect the payment much in either direction.
Got it. So when I also limit my exposure to cost increases by switching to a cheaper grocery store, I'm "investing" in groceries.
Ridiculous.
No, that's just being frugal. Not spending money on something is not investing. Grocery example would be buying in bulk; you pay more for something upfront because it's going to be cheaper on the long run.