If You Think Renting Is “WASTING” Money, You MUST See This!

Great video

Also tax breaks for homeowners only help if you itemize, so itemizers have much lower costs.

What if my mortgage is a 3% interest and lower than rent with 225k left to pay it off do I sell and rent

I’m much rather own outright a travel trailer on a lot than rent some beautiful place and be bound to those payments every single month

Own nothing but be happy lol

He is factoring moving cost as a part of the hassle of owning a house, while renting is really a constant moving!!!

You will own nothing and they will be happy!!

Owning a house is a goal that you should shoot for. But before you own a house learn how a house works. Watch tons of YouTube videos on maintaining a house and then once you have the knowledge for basic repairs or even major repairs then buy one. Im a contractor and things are getting more expensive every day

When you read too many books 🤣

If you can't see the programming here... you're missing it

lol try finding a house to rent in the UK tho 😂. every single incentive for landlords is gone risk of non paying squaters & rights the government have. ow given means it can cost tens of thousands of pounds to get people out of your property.

all bit two of my firdnds who had buy to lets have all been sold.

moving cost are there for renting tooo and down psyment for renting too😂😂 your point is mute 😂

people who own homes/mortgages are on average 40x wealthier than those who rent. not everyone, there are exceptions of course, but on average.

Sometimes renting is better. If you live a province or state with excellent rental controls then renting becomes a hedge against inflation because after 10-20 years you are paying well well below market rates for rent while your wages go up. My great aunt got into a great building New York in the 1950s and stayed there 50 years. When she died she was paying $500 a month for a beautiful one bedroom that was going forv$5000/month. She saved massive money in investments because of cheap rent. However, the monthly phantom fees of owning a condo is not a hedge against inflation. Strata fees, property taxes, imsurance and massive special levies are not restricted. They keep rising every year often faster than inflation

Well I bought my first house at age 30 now I am 58 and don't own a home this late in life I have peace and live with in my means , we all came in this world with nothing and we will all leave this World with nothing ☹️😊

When you go to a restaurant, you own the food you buy though. Rent is just a subscription model of giving away your money endlessly without truly having a home

I've had three different houses. I sold all three in the first week they were listed. I've never been trapped by my house. I've made money on every sale, rolled it to the next house and am currently thinking of selling the current home for a $377,000 profit. I'm thinking I'll downsize now which will lower my overall cost. It hasn't stopped me from saving and investing and I've never had to replace an AC, a water heater, or a roof. Those could be expenses but be prepared financially for that as part of the full equation. Also, learn to do the basic maintenance and repairs yourself. There's always someone who will teach you. I don't mind mowing my lawn, in fact it's part of my fitness plan.😂 I don't pay people to do things I can do or learn to do myself.

I'll have about 2.2 million when I retire. Yes, I could have probably have had, I can't remember something like $5 million. I don't really need $5 million though. Sometimes people are just focused on how much money they have or how "rich" they are and less about the balance in life that makes you feel rich.

😂 yeah lock-in a fixed rate for 30 years OR eat a 3.5%-5% rate hike for 20 of those years while your salary never outpaces.

Guys don’t buy this dog sht unqualified guru garbage. For millennia, humans have bought and OWNED their housing even if it’s small.

Utter bullshit. Sure, if you're a libocrite and can't even swap out a spare tire, then yes, owning a home isn't a good idea. I've never lost money on a property (on my 7th), even with all the repairs, upgrades that I do myself. Paying all that rent for someone else's equity is insane. I'd rather be the landlord than pay one.

You will own nothing & be happy propaganda.

This was an excellent video his violet turban was mesmerizing!

YOU'RE COMPARING ITEMS VS A HOME! 🏠

When rates hit 3% and refinance i win.

if you want to be someone's bitch= RENT. if you want freedom= BUY

When you own for some, it's their only net worth

“It ain’t bad to own a house. It’s bad to own a house you can’t afford!”

If you rent you are at the mercy of your landlord. I highly discourage renting. Mortgages remain the same. Rent always increases.

This is total nonsense if you are not already rich and renting through passive income. If you are struggling by each month just to pay your rent you are facing a lifetime of poverty and working until death.

He wants renters not owners. I own a home and will be able to retire early. Because I will have no rent or mortgage. These are just greedy men

in Europe in most countries, buying/owning is king.
Cos there people build houses for a long term, and most people are less mobile in terms of moving.
Also two main reasons, most peoples cant really save up much, but they can have their own homes which then their kids can inherit, if they rent, there is nothing.
but most importantly, its safety, if i own my own apartment or house, and i hit the pension age, mos peoples monthly retirement money is not even close to what they used to earn, thus what they could afford last year they can when being retired, if the own their house or apartment, they dont have to give away every month a good portion of their money, many have to move to cheaper places cos they cant afford anymore rent from their monthly budget.
or if you dont have kids and you feel you cant do it alone anymore, you can go into an elderly home from the house or apartment you sell, if you rent you have nothing to show for.

Buying is always better, fixed rate mortgage, overpay when you can, house prices rise, so do rents, but once you’ve bought the price stays the same. If you want to move and you’ve been renting your moneys gone, if you buy you make some money and you’ve been living in the house for free for free.

Rent is normally more expensive than the mortgage to buy it.. people have a habit of moving place to place, and that is silly. Find a place that works for you, and buy a place that you will have for a long time. Don't start moving and moving and upgrading just because. Find something you like and suits your life and stay

When you rent, the landlord and the platform will betray you and hurt you. But the way, the government binds education, healthcare and many other resources with the house. If you don’t buy a house, your children couldn’t go to a good school. Most of us are just normal idiots working hard to support our children. We don’t want to fail them, we want them to get good education.

You must have no problem with another man telling you what to do then.

Ive rented forever until 63 yrs old. I thought Id give it the good 'ol American try. Its more work. More money to fix things. no time. worried about more bills. Im most likely going to sell within 1o or less years. Its a hassle. I cant afford it. I will need the money for retirement.

Small note on the friend who just saves. He is technically losing money. You get 32 day or 90 day notice accounts that will at least give you interest to beat inflation. That way what you save is what you can get out in x number of years

Homes are now overvalued period. When they come back to reality I will buy until then I rent.

I sacrificed and bought an apartment. Now I live comfortably without the stress of increasing rent and my future in old age. The peace of mind is unmatched. I hate renting unless you have no other choice.

Who wants to pay rent from an occupational pension when the mortgage could be paid off by the time you reach retirement age...

Don’t overthink, guys.

Do the calculations of fixed and variable costs, take into consideration housing market growth, rent price growth, inflation, and starting costs. Make sure your total housing costs don’t exceed 40% of what you make (mortgage + utilities + taxes), and get a mortgage that fits that criteria.

If there’s not a place that fits this criteria, then rent until there is. Simple!

This dude reminds me of the Diamond 'Apu' Phillips of India.

Not owning your home because you are worried about maintenance costs? Would you not own a car because one day you might have to put new tyres on it? Rent is ENDLESS. Every month for the whole rest of your life. Guaranteed housing insecurity. FOREVER.

I bought a duplex 12 years ago - I have one tenant - it completely changed my financial situation - I no longer live paycheck to paycheck and base living expenses are covered by this investment - it is a tiny bit of freedom for a little work

As a veteran, I purchased a home 13 years ago for $345k with ZERO down payment. It's worth about $695k now. I made the payment religiously and have kept it maintained with no problem. You do NOT need to "put down 20% and have skin in the game". You just need to go to work every day, do your job, live within your means, and make the payments. You will be paying RENT anyway! But you're not going to build a single dime paying rent! Not only has my home doubled in value, but I've been paying the loan down every month for 13 years. I've paid down more than $120k. I have about $465k if I sell it today. If I had been renting, I would have zero equity today. This character Steve is interviewing sounds like a good talker but I think his turbine is on a little too tight.