PokeVideoPlayer v0.9-rev1 - licensed under gpl3-or-later
Views : 3,828
Genre: Education
Nov 18, 2023 ^^
warning: returnyoutubedislikes may not be accurate, this is just an estiment ehe :3
Rating : 5 (0/95 LTDR)
100.00% of the users lieked the video!!
0.00% of the users dislieked the video!!
User score: 100.00- Masterpiece Video
RYD date created : 2023-11-19T23:42:11.604382Z
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Top Comments of this video!! :3
First, as someone who rents to a tenant, I can tell you that rent normally is higher than the mortgage. And the rent goes up every year or so while my fixed-rate mortgage will stay the same for 30 years. Second, if the risk is reasonable, that house will be yours after some time and it almost always builds equity and increases in value. Further, the American tax system allows you to file a net loss for depreciation on your property for 27.5 years. This balances some of your premise on taxes. In my case it's a decent amount every year. That's HUGE! Last of all, if done properly, at least 25+ years of the mortgage, taxes, and fees are paid for by your tenants. So, if the math works, you're not paying almost any of the money on that supposed $800k.
However, your video is valuable for those who live in more expensive areas or who are not calculating the additional costs. At the end of the day, though, at least you will have equity on an entire house paid off if you buy. What will you have if you rent that same property for 30 years in the same neighborhood? Rent that is at least double the price of the original mortgage, zero equity, and you paid someone else's (mine) off providing them with 100% of the value of the home, cash flow, and tax benefits for 3 decades. Oh, but you won't have to pay for plumbing, so that probably equals out! 😂😂😂
Now, let me be clear, if you have a bunch of consumer debt, no savings, and low income in an expensive area, don't go buy a home! That's foolish. Get your basic finances in order first. Kill your debt, build a bunch of savings, live below your means, and be cautious and calculated in buying a home. Double check the 1% rule and the 2.5 times your income theory before jumping in. But once the numbers make sense, jump in and never look back.
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@bettertoaster
9 months ago
The main reason people live for rent is that they dont have the money to buy or get a reasonable loan. Or if they dont want to commit living in the same place forever.
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