Okay, I know that's not possible for everything. Renting a home is virtually a must in places with high housing prices, and a mortgsge is often needed when buying a house.
But in 95% of cases, renting something is a worse deal than buying it outright, and will leave you worse off as a result.
1. It's more expensive, especially in the long run. There's a reason so many companies have gone with the whole 'SaaS' model, and that's because it costs the customer a lot more to keep shelling out cash month on month.
2. It's a liability if you run into financial difficulties, since you have to either stop using said thing, or keep paying money you might not have/might need for more important things. Actual property can be sold instead.
3. And it's a security risk/livelihood risk that can be targeted by your enemies. The only reason stuff like cancel culture even 'works' is because so many companies would rather save their own reputation than stand by their csutomers, and because that can be exploited against others.
There are plenty of situations where renting is greatly advantageous.
Being dogmatic is what everyone needs to avoid. Being preconditioned to the idea that buying is automatically a good decision is to be avoided as well - when you take out huge loans with little equity you end up paying twice or more for the property - not to mention the massive costs of owning a home: from taxes to crippingly expensive home repairs. You can easily end up paying three or four times more than renting. Had you invested just the difference, in thirty years you'd be a million dollars ahead.
As always weigh the options and choose the one where the long-term math checks out.
Okay, I know that's not possible for everything. Renting a home is virtually a must in places with high housing prices, and a mortgsge is often needed when buying a house.
But in 95% of cases, renting something is a worse deal than buying it outright, and will leave you worse off as a result.
1. It's more expensive, especially in the long run. There's a reason so many companies have gone with the whole 'SaaS' model, and that's because it costs the customer a lot more to keep shelling out cash month on month.
2. It's a liability if you run into financial difficulties, since you have to either stop using said thing, or keep paying money you might not have/might need for more important things. Actual property can be sold instead.
3. And it's a security risk/livelihood risk that can be targeted by your enemies. The only reason stuff like cancel culture even 'works' is because so many companies would rather save their own reputation than stand by their csutomers, and because that can be exploited against others.