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Is renting a home like throwing your money away?

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βˆ™ 2006-09-11 21:25:24

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Depends. House payments are usually less than rent but in reality, payments never end. There are taxes, utilities, maintenance, mow the lawn, etc. So, I guess it's more a case of pick your poison, so to speak. You're not throwing your money away; you're paying for the roof over your head. Tossing your money in the trash would be throwing your money away. Exchanging money for a service or product is not a waste of money, as your question implies. Is it more cost-effective, in the long run, to purchase one's own home than to pay rent to a landlord? Usually, but not always, and only in the long term, and only if property values increase, which is usually, but not always, the case.

2006-09-11 21:25:24
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