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[quote=Anonymous]OP you may be happy with renting but that situation may become Unstable someday and then can you afford a comparable home or will you be totally priced out of the rental market? Are you truly aware just how much money you are flushing down the toilet each month by renting, especially in the DMV? That is money you NEVER get back, versus owning when you pay yourself each month. DH and I scrimped and saved for 15 years to buy our first home and how much money we wasted in rent literally nauseates me as it is the cost of a home in many markets outside of DC. Now we finally bought and have a monster mortgage, but we get to write the taxes off and we are building equity so every month we are literally paying ourselves. Our home had also appreciated 40K since we bought less than a year ago. We bought for ourselves but also for our kids as we hope to build generational wealth for them. Home ownership is really important if you want to be economically independent in your later years. If you rent for 30 years you will have nothing at the end of it. If you bought a house, you own an asset you can sell and the money is yours. Don’t convince yourself buying a home is not
Important just because you think you can’t afford it—it’s foolish thinking and you aren’t serving your long term financial interests or your kids by not making it a priority. Post this on the finance thread and have people explain it to you if you think I’m full for crap. [/quote]

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