Which is better for a long term living situtation

[Hanzkoch]

what do you think would be more advantageous to rent or house or get a mortgage.I think renting a house is better because you dont have to get into any debt and you mobility without having to qualify for a loan

 

[Drubiz]

Depends on a few factors, what's your financial status, what's the cost of the rent, vrs mortgage. what do you work as, what is your minimum spending amount and income, with that info its easier for one to tell you.

 

[Cristaf]

As long as you understand monthly rent is the more monthly for the equal living conditions as a mortgage then you are free to make your own decision.

Think about it:

• A landlord buys a house for the asking price
• They want to make money so they take the mortgage and add $400 to it and boom that's your rent

No one gave the landlord a "deal" or "discount" on the house because they will be renting it out. You are paying more for the same quality of living someone else is paying down the street. On top of that, you are not getting equity, building credit, or building a relationship with your bank to get better loans in the future.

Sure you're in debt when you buy a house but let's be real, what are you not in debt to these days? Your car, credit cards, mortgage, student loans, and your neighbor, your all in debt.

Just know the facts and you are good to make a decision on your own! good luck!