Is Buying Always Better For Your Finances?
Research online and you’ll find numerous articles suggesting that you should buy property as quickly as possible. The term thrown around here when referring to rented property is ‘dead money.’ While this sounds scary it simply means that you aren’t getting any long-term benefit when you’re renting, compared to when you buy a home. What people often forget is that unless you are buying a property outright – unlikely – you’ll be paying a mortgage. Essentially, until you pay off most or all the mortgage the property still does not belong to you. That should be enough to make you pause and wonder whether buying is always the right decision. But here are a few other times when buying is … Read more