[Yugocean]

If you must take out a loan to purchase a home, do so for a long period of time so that you can pay it back as rent every year or month.

Let me tell you about a family. They had taken a long-term loan from the bank to buy a big house. They kept paying the loan every year, like rent. By the time the loan was over, the family head had also retired. By then, the property prices had increased so much that he sold that house and got a nicer house built at a cheaper place. They started living peacefully with the money they received after selling the house.

[Starry]

When I bought my apartment, I took out a 20-year mortgage loan. It's just like paying rent every month. The value of my apartment has increased a lot. I am thinking of selling it now and buy a smaller one for retirement.

[nela13]

Buying a house with a loan is always better than paying rent. After a few years the house is ours and we can sell or rent it. When we built our house, we asked for a small loan, which we have already paid off, we do not intend to sell it because it is the house we always wanted, but we are thinking of buying an apartment to rent it out so that we have an extra source of income.

[augusta]

Buying a house with a loan is always better than paying rent. After a few years the house is ours and we can sell or rent it. When we built our house, we asked for a small loan, which we have already paid off, we do not intend to sell it because it is the house we always wanted, but we are thinking of buying an apartment to rent it out so that we have an extra source of income.

That will be a good idea and at the end of the day you would have saved money for rent. paying rent for life isn't Cool

[oldbuddy]

When I retired I sold my big house and bought a basement apartment for cash, so I don't pay any rent.

[augusta]

And you are saving a good amount of money from not paying rent any longer.

[Vehlijanta]

Not a fan of taking loan but that's a very important tip