You incur interest and fees with a home that you pay in addition to your principle. It can be seven years or more before you begin actually storing any value in that purchase because it’s eaten by the cost of borrowing.
It depends on your time horizon and relative costs of overhead and rent. NYT has a great new rent vs own calculator that really opened my eyes to how long it takes to build home equity.
You incur interest and fees with a home that you pay in addition to your principle. It can be seven years or more before you begin actually storing any value in that purchase because it’s eaten by the cost of borrowing.
It depends on your time horizon and relative costs of overhead and rent. NYT has a great new rent vs own calculator that really opened my eyes to how long it takes to build home equity.