Quote:
Originally Posted by stacey
Bottom line when someone (owner) who is retiring and has their house paid off with no mortgage, and another person who will be paying that same amount (probably more) until they die.
Who do you think the "winner" is as Red likes to say?
|
Depends. If they save the money differential (times when it's cheaper to rent than to own, savings of maintenance costs (which are usually significantly underestimated)) and invest it, I've seen a number of people put forward convincing arguments that it's better overall to rent.
You don't own a house at the end, but you have a larger overall investment.