The way I see it right now, I'm burning $600/mo on rent. Just down the toilet it goes. Plus, I'm earning no rental income as I would be if I purchased a 2-3 bedroom place. It seems like I'm passing up on a chance to put $600 + ~$600 (in rental income) per month by not having a house.If you consider your entire rent payment to be "burnt", then when you buy a home you will be "burning" all of these:- structural maintenance (roof, walls, floors, plumbing, wiring)- landscaping- leaf raking, snow shoveling, grass mowing- repair/replacement on major appliances- property taxes- mortgage insurance- mortgage interest- the portion of insurance that corresponds to structural- water bill- sewer bill- garbage billRight now your landlord is paying for all of these. When you buy, you will pay all of these.And by the way, rental income is taxable. You do get a few more deductions to partially offset it though.
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