st0wandgrow
Well-Known Member
If you plan on living at your new home for a long time, then buying makes sense.right it is... morgage or no morgage its cheaper... paying 500 in rent or 500 to something youll own definately makes a big difference!!!
But don't kid yourself ... the way mortgages are amortized, you are paying nothing but interest for the first 5+ years on a 30 year fixed, so you are essentially renting from the bank, with the added bonus of having to pay out of pocket if anything goes wrong instead of being able to call a landlord to come fix the shit for you.
Home ownership is great for some people, but for a lot of people renting is the better option.