[GREENBACK]

Originally Posted by disneysteve

I have no doubt that we would be financially better off today if we had been renting for the past 15 years instead of owning. We wouldn't have built equity in our property but we also wouldn't have spent tens of thousands for a new roof, windows, central air, heater, water heater, numerous appliances, various repairs, repaving the driveway, removing and pruning trees, new siding and gutters and more. All of that money could, instead, have been padding our investment accounts.

I think the whole "home ownership to build wealth" idea is a crock.

I totally agree. I remember renting and saving up to put my 20% down which I did. Everyone was telling me about the "financial advantages" of home ownership. After making my down payment and spending to get the house the way I wanted it I had put a huge dent in those savings. I still don't know what they were talking about. There are certainly advantages to home ownership that go beyond the financial aspects but I certainly feel like I would have far more money today if I rented.