Quote:
Originally Posted by retiredguy123
If you can afford to pay cash for a villa, you can get the same square footage and the same amenities as The Lofts for a third of the monthly cost. I don't see any advantage to living at The Lofts.
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There are good reasons not to pay cash for a home but rent instead.
1. You can invest the money you would have used to pay cash for a home. The interest earned can be used to help pay the rent. This will reduce out of pocket rent expense.
2. No additional costs. Property taxes, insurance, bond, amenity fees, lawn service etc. cost an additional $1000+ a month for homeowners.
3. Easy living in an apartment. No time spent on mowing the lawn, gardening, bug control, painting/spraywashing, the house etc. etc.
4. When an appliance, roof, carpet, flooring, etc needs replaced, a homeowner must pay for it. A renter does not have this expense.
The question is: Will you earn more money investing in a home or investing the cash?