• Sagifurius@lemm.ee
    142·
    11 months ago

    In a very specific scenario, with a very large amount of running the numbers, as a high income person with low personal expenses and a very good investment advisor, I could see how in certain situations/locations where mortgage rates are much higher than rental rates, that you get better fiscal results investing than paying that mortgage. That was a very rare situation 7 years ago, even more rare now. Where I lived ten years ago, I could not possibly afford the mortgage but I could the rent. These days there the situation has reversed and they’re both sky high regardless.

      • Patches@sh.itjust.works
        6·
        11 months ago

        You are always paying property taxes forever. You are also always paying the owners insurance policy. How are either cons?

        The landlord is not going to pay either out of the kindness of their heart. It’s in your rent. And then you have to buy additional renters insurance - if you want that.

        So it comes down to moving being expensive if you want to, or have to. And it makes more sense to store the million your pops gave you in the stock market.