Quote:
Originally Posted by OMG!WTF!
Would you rather pay your own mortgage, property tax, repair and maintenance costs, utilities, return on your down payment investment and potential loss of equity though? I've felt like I took a step back by renting for the last couple years but it's easily the best move I've made. People never consider the real cost of owning. Just the rent vs mortgage equation.
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Everyone's situation is unique, for sure. I don't love paying my own maintenance, repair, tax, etc. However, I'm confident I will gain some equity over the years, or at the very least, my house won't depreciate to some absurd Detroit or Arizona recession level. I feel like if I'm renting, I'm guaranteed to not gain any equity whereas with owning, there is a chance at equity.
I've rented before and there are definitely advantages. But if OP has made up his mind to buy, I would just say don't delay.