"I think it's worth starting with a few assumptions people make and treat like they're facts. Just because some guy on the internet, or your dad, or even me, your trusted Money Changes Everything writer says something with confidence does not make it a universal fact. Unfortunately, you have to interrogate the platitude, compare it to your actual life, then decide whether it applies to you at all. One person's platitude is another person's bullshit."
"Renting is throwing money away. No. It's absolutely not. You're paying for convenience, for a roof over your head, and for the ability to call the landlord (or text the management company through some swanky app) when the ceiling starts leaking. You're also avoiding some of the costs people conveniently forget. Those costs are property taxes, repairs, assessments, annual increases to HOA dues, trees falling on your roof, and the "SURPRISE, we need $10,000 from every unit owner for the new facade project" letter."
Liquidity can be more important than paying off an inexpensive mortgage because accessible cash provides flexibility for moves, emergencies, and opportunities. Renting pays for convenience and reduces exposure to property taxes, repairs, assessments, HOA increases, and large unexpected capital expenses. Rent tends to rise about 2% per year nationally, and renters can move if dissatisfied. Common housing platitudes require personal scrutiny, and basing housing choices solely on math often sacrifices livability. Maintaining steady retirement savings while saving to move preserves long-term security and supports better overall housing decisions.
Read at Substack
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