🔺 r/personalfinanceuInevitable_Simple643·51 days ago
Is it stupid to keep renting if I can technically afford to buy?
I've been saving for about four years and I have enough for a down payment on a modest house in my area. My rent is around 1400 a month and I'm stable in my job. The problem is I hate the idea of being locked into a mortgage for 30 years. What if I want to leave the city? What if the market crashes? What if I want to take a career risk? I know the advice is usually "buy as soon as you can," but staying flexible feels important to me. On the other hand, I'm throwing money away on rent and I'm not getting any younger. Is the flexibility worth giving up the financial advantage of building equity, or am I just rationalizing avoiding responsibility? submitted by /u/Inevitable_Simple643 to r/personalfinance [link] [comments]