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Ree

join:2007-04-29
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reply to CanadianRip

Re: Voltage Versus Teksavvy, Round 2 Continued

said by CanadianRip:

I'm pretty sure if you mortgage for 25 years, your mortgage payment will be $ 0 at the end and your Rent payment will be chugging along.

I'd love to see your math on how that works out though.

Straying off-topic, but the math isn't as simple as that. Rent may be cheaper, houses have additional costs (property tax, maintenance, possible to rent with heat and hydro included so that could be extra if you own), home values may depreciate, many people like to upgrade so they end up paying a mortgage for far longer than 25 years...the list goes on.

Personally I still prefer owning to renting, but renting isn't as horrible an idea as some people think.