Re:Maybe Treating Housing as an Investment Was a Colossal Mi...
by jedberg on Monday March 06, 2023 @03:30PM
(#35047141)
Just use this calculator:
https://www.nytimes.com/interactive/2014/upshot/buy-rent-cal...
In most Bay Area markets, it makes more sense to rent than buy from a purely financial prospective. It's only if you value the ability to modify the home or have a sense of permanence that it starts to flip.
Since we control our mortgage, we paid it off early, at around 15-16 year mark (due to my wife making me realize the importance of it). We live rent and mortgage free the rest of our lives thank God. I only wish I'd kept either of our 2 former houses instead of taking better job offers requiring moving ultimately to the bay area where we couldn't afford to buy a home. Texas is nice though!
My Dad always said, buy a house as soon as you can.