Is it better to buy or rent a house? Should I rent and invest or buy a house which is best long term? Break even time periods are typically between 5 to 7 years. If staying for less than 5 years then renting is usually best and if staying for at least 7 years homeownership tends to be better financially for similarly priced properties.
Why do homeowners have more net worth compared to most renters?
Forced savings, equity, appreciation of real estate, mindset, stability, etc. are are most common amongst homeowners, but there are opportunity costs with large down payments and money being tied up in a property.
$430,000 home: www.statista.com/statistics/1...
$2,000 per month rent: www.nerdwallet.com/article/fi...
www.nerdwallet.com/calculator...
www.nerdwallet.com/mortgages/...
www.nerdwallet.com/article/fi...
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