Should You Rent or Buy?
Why You Need to Stop Renting Your Home
…and when you should rent anyway… The definitive data-based answer on buying vs. renting…
I was in my late 30s and still renting.
I knew I was throwing money away each month. Hundreds of thousands of dollars by that point…
I knew I had to do something about it, but somehow just thinking of scraping together a down payment, and worse, committing to paying a mortgage payment each month on pain of losing the house seemed overwhelming.
When I shared this with a friend, his response made all the difference.
He simply asked if I knew I couldn’t come up with the down payment and afford the mortgage payments, or if I was simply assuming it.
***Deer-in-headlights moment***
Ummm, I guess it was really me assuming it…
When I got home, I dug out an email someone had sent me a couple of weeks earlier. I can’t even remember who had sent it to me, but he suggested that if I ever needed a mortgage, I should contact the lender he worked with.
I called that lender, who suggested I take out a first mortgage for 80% loan-to-value (so I wouldn’t have to…
