Should You Buy a House or Rent Forever? -My (Unpopular) Opinion
What financial gurus & real estate developers aren’t discussing
Buying a house🏠, getting a degree,👩‍🎓 or buying the dream car 🚗 were considered major personal life goals.
However, things are changing.
A lot of us are
- Considering renting forever vs. buying a house
- Choosing trade schools over conventional education
- Getting used to Uber or public transportation over driving a car
The main reason that makes us choose the unconventional is — Yes you guessed it right — RISING COSTS.
When it comes to renting homes, the financial gurus are unanimous about renting.
Here are some of the major reasons for choosing renting over buying
- Rising Housing Costs
In the US, a single family home cost on average $ 389,300 in 2023. Not just in the US, but around the globe housing prices are breaking all-time records. As you can see in the graph below, in Iceland, housing prices grew by 103% from 2010 to 2022.
