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submitted 11 months ago by Custoslibera@lemmy.world to c/memes@lemmy.ml
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[-] general_kitten@sopuli.xyz 51 points 11 months ago

by buying a house you get to be a wage slave for a couple dozen years, By renting you can be a wage slave for your whole life

[-] kandoh@reddthat.com 14 points 11 months ago

By renting a home, you'll pay 1300 a month for the rest of your life.

By buying a home, you'll pay 800 dollars a month for the rest of your life, with the occasional 5 - 10 thousand dollars surprises every now and again.

[-] Pyr_Pressure@lemmy.ca 12 points 11 months ago

Except in the end you can also sell that house for $600k-$900k+ at 65 years old then use half of that to rent the next 30 years and have the rest to do whatever the fuck you want.

[-] JPJones@startrek.website 6 points 11 months ago

And rent goes up. In 10 years, the mortgage will be the same.

[-] Enk1@lemmy.world 3 points 11 months ago

Not true, unfortunately. Insurance and property taxes go up and payment on those is typically held in escrow with your mortgage. If you're unfortunate enough to live in a state with a clown taint for a governor, like say Ron DeSantis, your mortgage payment could, for example, go up by $600/month this year. Ask me how I know.

[-] JPJones@startrek.website 5 points 11 months ago

Insurance and property taxes aren't part of the mortgage outside of an escrow account, so yes, it is true.

Regardless, the point is still that rents will increase a lot more than monthly overhead for owning.

[-] Kage520@lemmy.world 2 points 11 months ago

Florida has a really great Homestead though, capping your property tax increases to 3% per year. For the insurance, you can probably get Citizens, which isn't great but it's something.

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this post was submitted on 05 Dec 2023
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