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[quote=Anonymous][quote=Anonymous]My mortgage/taxes/insurance is 3k/mo. If I were to buy the same home now it would be 7k/mo. I am SO glad I bought when I did, which was 2018 so not that long ago. In my area for 3k now you can rent a 2 bedroom apartment. [/quote]

+1 Yes, home maintenance and other costs are expensive. The real benefits of buying are seen many years down the road when your fixed-rate mortgage payment is low relative to current prices/rents. In 20 yrs the person who bought the house with the $7k mortgage payment will be saying I'm so glad I bought when I did because to buy now would be $12k. And on it goes. I can remember when my parents' mortgage payment for a nice 4-bedroom house was $500. It felt "expensive" when they bought it.

Along the way, both the owner and renter are paying the maintenance costs, renters just don't see them allocated separately. IMO, the main benefit of renting is that you don't have to hassle with taking care of maintenance, the landlord has to do it. But you are also dependent on having a landlord who will do it.

Buying a house - if you stay and pay off the mortgage - lets you significantly reduce your housing expense in retirement. The owner is still paying taxes and maintenance. The renter is paying those + continuing to pay the landlord's mortgage + the part of the cost that is just meeting the current market conditions.[/quote]

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