I've rented for about 10 years now ever since I moved out of my parents' home and have paid various amounts for rent over the period. You do have flexibility in moving around, only having to commit to what you and the landlord signed for and if anything breaks down, no money comes out of your pocket. It isn't your problem. But after all these years, I'm putting a down payment on a house as soon as I find the one I love.
Prices are historically low and you build equity in the process. I will agree that as I started the process, I had a feeling of doubt and realized that I'm stuck with my current job now for 30 years minimum. I might find a better job down the road but I will be in debt for 30 years. But I got over it. I have nice apartment neighbors but some more privacy would be great. I want to work on the yard and my wife wants to plant a garden. I would love to let my kids run around a real backyard. I want to paint walls to what I like. I want to tear down walls and style it to what I want. I can't do this with my current rented apartment.
And in the end, after 30 years but working to pay it off sooner, the house is mine. I like the sound of that.
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