7/25/19.
Ultimately the decision comes down to what is important to you at that moment in time. In this post, I'll cover some things to consider.
Finance. The financial advice I've seen is to only buy if you are ready to commit 10 years.
Convenience/Flexibility/Responsibility. There’s convenience in not owning. Owning and dealing with household problems can be stressful. It is also, easy to move when renting > at most pay 1 months rent.
Home Feels. Buying = owning and that feels different than renting. It can be tough making, treating, and viewing a spot you rent like a home.
Investment. Ramit Sethi preaches that Real Estate as an investment is overrated in USA. Don't just consider buying because "renting is throwing away money".
Keeping Up with the Joneses. As the study puts it, "individuals in fact are happier when they live among the poor, as long as the poor do not live too close".
Rent to Buy Ratio. Above 20 = rent. Below 15 = buy.
8/10/19
3/13/20
Make a Home. Nat Eliason writes,
"There's immense joy in investing in building a home for yourself, a joy that you don't get from renting. I understand the economic arguments that you (maybe) shouldn't buy a house, but I think you should ignore those if you have the means and forego some financial upside in favor of significant emotional upside.
It's a weird mental switch, owning a home. You'll have little things that annoy you about it, then you'll realize "oh wait I can do whatever I want to this thing." It's pretty neat. And you'll care way more about making it comfy, personal, well decorated, and a good place for hosting if you know you're going to be there for a while.
Not everything in your life has to be a financial maximization question. Save up and buy a house when you can. It feels great.
Plus it's a good excuse to buy more books."
Current reading: recommended by Tyrone Ross