• PhlubbaDubba@lemm.ee
        113·
        10 months ago

        How? Mortgage is the same risk exposure as rent with a “landlord” who holds even less responsibility to maintain the quality of the place than in a rent arrangement.

        • helenslunch@feddit.nl
          5·
          10 months ago

          A mortgage broker is not a landlord. Not even close.

          They hold 0 responsibility because they don’t own the property.

          How? It’s called building equity. Every payment you make contributes toward your ownership of the property. Something you can borrow against at a low rate or cash in at any time.

          When you move out of your lease you take nothing with you.

        • jj4211@lemmy.world
          1·
          10 months ago

          No.

          Rent will be a bit higher than comparable mortgage payment.

          A mortgage payment actually ends one day.

          If you move out, you get to sell your house and get a lot of money “back” compared to renting, maybe more than you put in even.

          Even without selling, you have “equity” you can leverage to have secured debt at very attractive rates.

      • PhlubbaDubba@lemm.ee
        211·
        10 months ago

        How exactly? A mortgage is in practice rent to the bank, complete with them getting to evict you if you turn out to not be able to pay, not to mention that the landlord at least hypothetically is responsible for providing repairs and appliance replacements.

        • SaltySalamander@kbin.social
          2·
          10 months ago

          How? Because in about 1.5years, I will own outright the house that I’m “renting” by paying off my mortgage. When’s the last time you can say that about some spot you were renting?

          Also, my “rent” is about 5x less than any renter in the area is paying for a similar house.