Why is everyone rushing house car etc

[RickTheToad]

I like owning my town home. It's not big, it's not ritzy, but it's me and mine. I've considered moving a few times, but selling is a pain; not to mention moving all my stuff.

 

[Murk]

Because I’m all alone in this world with no family and my children (when I have them) and grandchildren will never know the pain, suffering, isolation, abuse, torment and hardship I had to endure. It’s all worth while if they experience what I could never have.

You will never understand, safe and secure from mums basement.

 

[ChillDude6767]

Saying your rent and mortgage payments are the same is made up math, especially if you don’t include property taxes in the mortgage payments. The other thing that’s being ignored is the flexibility rent gives relative to a home. I would never get a home unless I had kids or felt extremely stable where I was.

Also, don't forget about insurance and any extra utilities.

But doesn't it depend on how expensive of a home you buy?

 

[Serenity]

You are paying interest for 30 years on a loan.

I pay way less interest than I would pay rent, I could maybe get half of a tiny apartment if I paid rent equivalent to the interest on my moderately sized house. Renting is ultimately more wasteful, at least here.

Yes you end up with an asset at the end, but I could just as easily put aside the same amount that you pay in interest in an annuity while paying rent and have the same $ asset after 30 years; maybe higher given the fact that my asset will be far more diversified.

After 30 years my house will be worth more than it is today, unless something catastrophic happens to the Norwegian economy, which is unlikely considering Norway owns 1.3% of global stocks and shares. Again, renting is far more expensive than paying interest here, it would be insane to rent if I have the option not to.

The problem is most people are not disciplined enough to put aside money unless they own a house.

In addition to owning a house I save up almost the equivalent of what I pay in interest every month too.

 

[RickTheToad]

You also have some other benefits. I have a duplex, so I can rent out the other unit, but I use it for my sh!t right now. I paid 35k for it a few years ago. it's now worth north of 90k. When I sell, that 55k in profit comes to me tax free. It's also nice to know that I do not have to deal with a landlord and I can do whatever the fvck I want to in my own house. When you have a landlord, you cannot do that. Yes, tenants have rights, but it's nice to have your own pad.

 

[fanatic22]

I pay way less interest than I would pay rent, I could maybe get half of a tiny apartment if I paid rent equivalent to the interest on my moderately sized house. Renting is ultimately more wasteful, at least here.


After 30 years my house will be worth more than it is today, unless something catastrophic happens to the Norwegian economy, which is unlikely considering Norway owns 1.3% of global stocks and shares. Again, renting is far more expensive than paying interest here, it would be insane to rent if I have the option not to.


In addition to owning a house I save up almost the equivalent of what I pay in interest every month too.

You totally misunderstood what I said but whatever, this discussion is exhausting.

The more important point actually is the optionality rent gives you. I’ve moved 3 times in the last 10 years and I can keep chasing the best opportunities in front of me.

 

[Serenity]

You totally misunderstood what I said but whatever, this discussion is exhausting.

You seemed to be arguing that having a loan isn't any cheaper than renting. This may for all I know be true where you're from, it is significantly not so where I live. I'm not trying to be an ass or anything, I would like to know what I misunderstood.

The more important point actually is the optionality rent gives you. I’ve moved 3 times in the last 10 years and I can keep chasing the best opportunities in front of me.

Yeah it's a little easier when you don't have to worry about selling, but not too bad IMO.