If purchasing a house negatively impacts savings, then renting is preferred in order to focus on saving.
Discussion
Yes, but… you can’t live inside a Bitcoin.
You said “if” so I agree.
Your living arrangement will always represent a significant cost center and there is really no way around that.
Comes down to balancing tradeoffs, goals, and wants against earning power and savings.
Amen bro. Wish I understood that years ago.
So many are mortgage poor. Hard to get out of that. Only buy if it makes sense. It shouldn't require all your savings, nor all your income.
IMHO if it threatens more than 15-20% of savings than you can't afford it.
Not in these times.
We had to get creative. Using an interest free private loan for a portion of it. We co-bought.
When you say 15-20% of savings, are you referring to the total cost of the house, or some combination of a down payment, renovations, and the resulting monthly payment?
Agreed.
Owning real estate is an expensive illiquid liability that is very difficult and stressful to unload later. The origin of the word 'mortgage' literally means until death.
Self-custody #bitcoin is the superior equity.
Yes folks need a roof, but they shouldn't leverage to the hilt to get one.