alt Hacker NewsRenting isn't 'good' though in many metrics. Ownership is, and that's what the push should be for, rather than promoting basically a monthly subscription to have a roof over your head.
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TeMPOraL • today at 1:14 PM
Does this correct for mortgage? Because owning through a bank loan still amounts to a monthly subscription.
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It's not that simple. Owning a home is not just a better version of renting. It's a whole different thing with pros and cons.
Your mortgage is the lowest amount you'll pay. On top of that you have to manage the upkeep of the house, which costs both time and money. Lots of people go through phases in their lives where they move around and owning just doesn't make sense for a few 1 to 2 year stretches.
On the other hand, rent is the highest amount you'll pay. You generally don't have to worry about upkeep, and you're free to move. The commitment is lower and that has real value for certain people at certain stages of their lives.
I rented for 6 years in different areas until I figured out what I liked, and then I bought a house. Those 6 years weren't just wasted years. Those were very valuable years where renting really made the most sense.