Where I live, I probably wouldn't buy. The town is dependent on exactly three businesses for jobs. There are 30,000 jobs from those 3 businesses, but that is it. One company moving out (already threatened this year) or one canceled government contract (already threatened this year) and boom the housuing market is dead. I wouldn't tie myself in a house here for any reason, so I get there are reasons why renting is preferable.
But renting also feels like such an incredible waste of money.
Unfortunately, a lot of people who are anti-buying jump all over threads that even mention the conventional wisdom that buying is preferable to renting. Like everything in the real world, the answer is always "it depends".
That said, I feel like there is a negative stigma attached to living at home after college for everyone except those in the 22-27 crowd. I know when I was 17 I thought, I wouldn't be caught dead living at home after college. Now that I'm staring the bills down, I totally get it. I'm sure a lot of older adults are saying "how can these kids still live at home, they're 24!", but the economics of it make a lot of sense, and if your parents aren't a hassle why not?
> But renting also feels like such an incredible waste of money.
Just be honest with your accounting, when you buy a house. Apart from doing small repairs and all the paperwork yourself, there shouldn't be much of a difference between living in your own house vs renting and using the capital that would be tied down in a house to buy some shares or bonds instead.
Where I live, I probably wouldn't buy. The town is dependent on exactly three businesses for jobs. There are 30,000 jobs from those 3 businesses, but that is it. One company moving out (already threatened this year) or one canceled government contract (already threatened this year) and boom the housuing market is dead. I wouldn't tie myself in a house here for any reason, so I get there are reasons why renting is preferable.
But renting also feels like such an incredible waste of money.
Unfortunately, a lot of people who are anti-buying jump all over threads that even mention the conventional wisdom that buying is preferable to renting. Like everything in the real world, the answer is always "it depends".
That said, I feel like there is a negative stigma attached to living at home after college for everyone except those in the 22-27 crowd. I know when I was 17 I thought, I wouldn't be caught dead living at home after college. Now that I'm staring the bills down, I totally get it. I'm sure a lot of older adults are saying "how can these kids still live at home, they're 24!", but the economics of it make a lot of sense, and if your parents aren't a hassle why not?