What is more frugal. To buy or to rent?

[Threestep2]

We have a lot of new rental in our area but apartments. They not cover our needs of two offices, guest br, garages. Friends had tiny 2 br upstairs with a shared bath and a two car garage at 3k in 2013 when they decided to buy. King bed would not fit.

Upkeep can be a challenge both financially and work wise but privacy is almost priceless nowadays.

[freemkt]

Originally Posted by doodlemagic

Thats too big of a blanket statement to say one way or the other, depends on so many factors like the area, how long you plan to stay, if you'll be buying a condo, SFH, TH, etc.

I'm sure people will post articles laying out numbers saying its better to rent and others will find articles and post saying more frugal to buy, you can really twist stats to show anything you want.

For me personally I have dogs so renting is a big more difficult. Also I hate "throwing my money away on rent" I know thats cliche and its not throwing your money away you have a place to live but I'd rather build equity.

I think its somewhat similar argument to should I lease or buy? Different in the sense that a car is a depreciating asset and a home isn't quite so but still the do you want to build equity and have something when your done paying it off or do you just wnat to pay for a place to sleep or a car to drive while your paying for it.

I bought a home some years ago, I had a few buddies living with me basically paying the mortgage for 3 or 4 years. I then moved out but rented the place out and am not only building equity but my tenants are putting an extra $400 a month in my pocket on top of my mortgage so in my case I'm really happy having bought instead of rent

Is this a great country or what?

[ColoGuy]

Can't make money from rentals elsewhere? News to me.

Originally Posted by freemkt

Is this a great country or what?