April 27, 2009 4:59 AM Subscribe
Why do people say that they don't want to waste money on rent?
posted by Brennus to work & money (73 answers total) 26 users marked this as a favorite
I keep hearing people say that they don't want to waste money on rent and that's why they buy a house/condo. I have done the calculations myself and after all fees/maintenance/tax advantages etc. buying is always much more expensive than renting (at least in my current area/financial situation). Do these people (in pretty much the same financial situation) know something I don't or do they just repeat something they have heard without anything to base it on? I don't understand how people forget to consider the interest part of mortgage as wasted money, after all, you are never going to see it again.