Comments on: Buying a House Is Not Automatically Better Than Renting Now http://ownthedollar.com/2009/11/buying-house-automatically-better-than-renting/ Own the dollar....don't let the dollar own you. Tue, 01 May 2012 14:22:12 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Hope to Prosperhttp://ownthedollar.com/2009/11/buying-house-automatically-better-than-renting/#comment-10353 Hope to Prosper Tue, 24 Nov 2009 23:50:56 +0000 http://ownthedollar.com/?p=2268#comment-10353 Buying a house has never automatically been better than renting. But, over a 10+ year period it usually is and it will continue to be. It's not accurate to look at recent statistics and say houses won't appreciate, because this crash is no different than the crashes in the '80s and '90s. Housing is cyclical, just like the stock market. It's tied to income and demand. Housing will appreciate in most areas, except possibly the rust belt. Then, if housing becomes too inflated, it will crash again. The real benefit of owning over renting comes after many years. Your mortgage stays the same while everyone else's rent goes up. After 13 years, the mortgage on my nice big house is now way less than the rent on my dinky old appartment. And, after I pay off my house in another 5-6 years, I will only have to pay for insurance, maintenance and taxes. Most people who compare renting versus owning, haven't thought that far ahead. That's a big mistake, because long term, it's a way better deal to own. Did I mention the tax advantages? It's worth fixing your own plumbing. Buying a house has never automatically been better than renting. But, over a 10+ year period it usually is and it will continue to be. It’s not accurate to look at recent statistics and say houses won’t appreciate, because this crash is no different than the crashes in the ’80s and ’90s. Housing is cyclical, just like the stock market. It’s tied to income and demand. Housing will appreciate in most areas, except possibly the rust belt. Then, if housing becomes too inflated, it will crash again.

The real benefit of owning over renting comes after many years. Your mortgage stays the same while everyone else’s rent goes up. After 13 years, the mortgage on my nice big house is now way less than the rent on my dinky old appartment. And, after I pay off my house in another 5-6 years, I will only have to pay for insurance, maintenance and taxes. Most people who compare renting versus owning, haven’t thought that far ahead. That’s a big mistake, because long term, it’s a way better deal to own. Did I mention the tax advantages? It’s worth fixing your own plumbing.

]]> By: Carnival of Personal Finance #232 Thanksgiving Survival Editionhttp://ownthedollar.com/2009/11/buying-house-automatically-better-than-renting/#comment-10320 Carnival of Personal Finance #232 Thanksgiving Survival Edition Mon, 23 Nov 2009 13:05:59 +0000 http://ownthedollar.com/?p=2268#comment-10320 [...] from Own The Dollar presents Buying a House Is Not Automatically Better Than Renting Now,  Some sound advice from Hank on renting vs. [...] [...] from Own The Dollar presents Buying a House Is Not Automatically Better Than Renting Now,  Some sound advice from Hank on renting vs. [...]

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