Is It Better to Buy or Rent? – New York Times

This is an extreme example focusing on NYC and Cali, but case studies sited prove that owning is more expensive than renting.

I’ve stayed away from owning for a couple of reasons. One, I’m a one-person deal. I don’t have thousands of dollars in savings. I haven’t owned a car for more than a year. I simply doubt that I could “buy” a house right now anyway.

Secondly, I’m lazy. Although I’d like a garden, I don’t want the bother of shoveling, mowing, etc. I don’t want to suddenly have to put in a new cement walk up to the front door. I don’t want my water heater to break suddenly. I don’t want to call a plumber to fix a leaky sink. And think about all the expenses for a house that you never get back. It’s just not worth it to me, unless you have three other people to help with the chores and surprise payments.

And that money I’m saving by not replacing my roof, I’m putting away for my retirement. Now a retirement home sounds less scary after living in apartments all my life.

Comment are closed.