Does it make sense to own a house?
I’m single, no kids.. I have no debt and about $90,000 between investments and savings. I’m in my mid-late 20s.
Make anywhere from $120-$150k a year. Home prices are crazy where I’m at and with interest rates, I’d be paying over $2,000/mo anywhere for a house not including repairs and maintenance.
My apartment is currently only $1,480.
Even if I do end up paying off the home quickly, won’t property taxes, insurance, possible HOA go up so much that it’s about the same as renting?
Why not just invest? I think it would be different if I had kids and needed more space but as of now, does it make sense to buy/own?
original posted by This-Equipment-119 to r/personalfinance on Sat, 02 Mar 2024 15:51:38 GMT.