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A few days ago, I came across a viewpoint that I think makes a lot of sense.
It’s about buying a house versus renting. If you buy a house now, you can live in it for about 60 years.
But what happens after 60 years? The house will become old, and compared to newly built neighborhoods, it will seem outdated.
If you rent, you don’t have this problem, and the rent only needs to be paid monthly, without the need to pay a lump sum to buy the entire property, which ties up a large amount of capital.
In my opinion, the main reason to buy a house is if you have a child who needs to attend a nearby school, which makes it useful, and you don’t need to move.
If you rent, you have much more flexibility—you can live wherever you want.