Buying (with a mortgage) Burns Money Faster Than Renting. Prove me wrong.
Manage episode 478679085 series 3433114
Watch this on video here: https://youtube.com/live/JiPQSMi9W1o
Buying a home with a mortgage means you end up paying roughly double what you borrowed, on top of your deposit. Then inflation, maintenance and service charges need to be considered.
The value of your home needs to roughly quadruple over the 30 year term of the mortgage to make it a worthwhile investment.
I'm not trying to put anyone off buying a home with a mortgage, it's a great thing to do. I'm trying to bust the myth that it's also good financial decision to stop people overpaying.
Renting can be safer. Sometimes.
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406 episodes