Today, yes, I will be explaining the reason why I personally prefer to rent instead of buying a home to live in myself. And I know that this topic at first might seem controversial because the general belief, although I think that it is changing more and more as the years go by and specially after the housing crash in 2007-2008, is that it is always best to buy a house because this way you don’t throw your money just renting some place that in the end will not be yours. And don’t get me wrong, as in many cases the buying option will end up being better, but as always it is not all black and white and there will be several factors that will determine what ends up being a wiser alternative. The way I will go about it will be that we will first have a look at a hypothetical example of the same situation and comparing the alternatives of buying vs renting and after this exercise I will be sharing my thoughts and my arguments of why I personally lean towards the renting option. But with that said, and after I very quickly remind you that if you enjoy the video it would mean a lot to me if you could give it a like, let’s go for it!
Compound interest calculator: https://moneysmart.gov.au/budgeting/compound-interest-calculator
Average return SP500: https://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp
Video “My net worth at the age of 21”: https://www.youtube.com/watch?v=T3bK27TrCp0
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