Comment on Renting vs Buying by Jim @ Route To Retire.
That’s a nice breakdown you did!
I’m very happy with my house and neighborhood, but I was happy living in an apartment as well (I’m pretty easy). It’s a pretty big investment to buy a house to live in. And unfortunately, you don’t get any cash flow out of it like you do with a rental property. I also miss not mowing, snow-blowing, and doing home repairs!
On the other side of the coin, it’s much easier to entertain company with a house. I’ll also have it paid off in a handful of years which will make it a lot cheaper every month to own at that point.
Good and bad!
Recent Comments by Jim @ Route To Retire
How to Save Money Traveling
We’re actually in the middle of planning a big trip to Panama this summer and I’m quickly learning how some of the costs of travel can quickly add up on an international trip. We’ve already booked the lodging at two different places across the country. We ended up booking some wonderful places right on the beach for 3-room condos for just over $100/night. That part’s awesome and a good deal, especially since we’re actually splitting the place (and cost) with my brother and his wife.
We’re also going to try to eat and live like the locals so that should help keep the costs down as well.
However, now we’re learning that 1-3 vaccines needed aren’t covered by insurance and can be about $100/each (and we need them for me, my wife, and daughter). The flight, which we haven’t booked yet, is also ridiculous.
The one tip I’d add to your list is to use Kayak for tracking flight prices. Their site will email you every day and let you know how the price of the flight you’re looking at is doing. For our flight, I’m just hoping we get an email saying it’s dropped dramatically or this is going to be one pricey trip!!
Limited Investment Opportunities
Well, that’s a downer of an article! Just kidding – it’s actually very interesting. I love looking at the differences between the generations and how they think.
On your note of where to put your money, maybe that’s going to be another opportunity to invest in rental properties? Housing prices going down with an overabundance for sale, rents going up with more tenants renting – might not be a bad deal.