Quote:
Originally Posted by Joekerr
Depending on the location though, there is capital appreciation that far outstrips the costs of these minor repairs when you go to sell. That is something that you don't have renting.
I'm not keen on renting though - unless it is short term (ie. 1-2 years to figure out where you want to live / whether job will work out), then it makes sense.
We've had our house for 4 years now, and its probably worth about $300K more than what we purchased it for. We've probably spent about $60K over that period with the new roof, generator, and some minor stuff. So I'll take that any day of the week.
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I'm not discounting your point here. Mine has probably increased in value by $20k in the past 4 years. I still have much to do in order to get it either a.) where I want it or b.) we I need to get it to sell it and make a nice profit, sell and start life over again, still undecided. For a younger fellow though, I wouldn't recommend buying until one is fully seated in life.