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A comment on Renting vs. Owning a Home, by State. Parent comment

Re:Renting vs. Owning a Home, by State by reducesuffering on Sunday September 03, 2023 @03:54AM (#37368542)
It’s not that simple. If your principal is ~$1.5k/mth, then you actually own an extra $1.1k/mth, but it’s invested into SFH real estate rather than stock market. Then there’s the opportunity cost trade-off of the down payment being invested in SFH real estate or stock market.

Maintenance problems can be solved purely by your equity savings put towards handymen. As that is exactly what most property owners do that would be renting to you.

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Re:Renting vs. Owning a Home, by State by bachmeier on Sunday September 03, 2023 @06:02PM (#37375015)
> If your principal is ~$1.5k/mth, then you actually own an extra $1.1k/mth

The cost of the house (not counting principal repayment) was $400 above my rent, not $400.

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Re:Renting vs. Owning a Home, by State by reducesuffering on Monday September 04, 2023 @06:27AM (#37379070)
If your monthly PITI payment is $4k, principal $1.5k, rent $3.6k, then your net worth hit is actually only $2.5k/mth from the house.

If you’re saying interest, taxes, and insurance were all $4k/mth, $400/mth, then sure, but people usually don’t talk about the costs of their mortgage that way.

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