Re:Ask HN: Will you buy or rent at this time?
by simonblack on Saturday June 06, 2020 @08:17PM
(#23443542)
How stable is your life?
Are you in danger of losing your job? (ferinstance) In that case you may need to move suddenly to another part of town or another state, or even (worst case) another country.
In this situation, you are far better off renting because that gives you more flexibility, as you don't have the hassle of having to wait until you sell your house before you can move.
Conversely, if your life is stable, you don't have a mortgage but your income ebbs and flows, you are better off if you own your own home. In times of low cash flow, it can be used as collateral to borrow food-money temporarily.
Are you in danger of losing your job? (ferinstance) In that case you may need to move suddenly to another part of town or another state, or even (worst case) another country.
In this situation, you are far better off renting because that gives you more flexibility, as you don't have the hassle of having to wait until you sell your house before you can move.
Conversely, if your life is stable, you don't have a mortgage but your income ebbs and flows, you are better off if you own your own home. In times of low cash flow, it can be used as collateral to borrow food-money temporarily.