Renting vs. Buying a home

Don't forget that renting will always cost more than the owner's morgtage + property taxes + repair budget + profit. It is clear that it is always, in the long run, cheaper to buy then to own. And one day the house will be payed, making it cheaper still.

Its about the equal where I live. And when your paying 90% of each monthly payment to interest, then why not rent...

My favorite as a renter is when i call my landlord and tell him the water heater is leaking or the ac unit isnt working and i watch him freak out lmao, must be kicking serious butt owning the house im renting and freaking over repairs. Owning anything in my mind is an illusion.

Anybody knows if it is realistic to assume that you can rent a 1 million home for 3000/month? It´s of course crucial for the validity of Mr. Khan´s thesis. I honestly don´t know the answer, but you should probably look at it as a percentage: is paying 0,3% of property-value/month realistic? Anybody knows of online resources with info on this?

@Andersxman Well, I somehow doubt it. The renter is in the business for profit, therfore he won't rent the house for less than his morgtage is on it.  Problem is, secondary homes not occupied for at least 14 days per year are inelligible for income tax deduction. This means that if we believe Mr. Khan's numbers the owner will be paying $45k per year. He's going to want profit and money for repairs, so he might charge $60,000 per year. I'll continue in another post.

@Andersxman You say, well what happens if he bought it before the housing bubble? Well, problem there is that the laws of supply and demand will allow him to charge as much for the house as he would have to if somebody bought the house next to him and started renting it out. So, basically all you save by renting is not having to come up with that down payment, which is a big deal for a lot of people. In the long run, it is cheaper to buy (remember that one day the morgtage will be payed...).

ahaha nigga i was reading all smart comments and yo nigga comes out ahaha nigga you funny

i ment barrow 1 mill for a house, . when you go into retirement sell it. the house well appriciate over the time you spent living in it (just for example)10% appriciation value......sell the house +10% of 1mill. this works better with lower cost homes that arent already the highst costing homes in the hood