The truth: unless you plan to stay a long time, owning a home is often not the investment it’s made out to be. Along with mortgage payments come maintenance costs, taxes and rates, and countless other surprises – many of which will exceed the repair estimate. With renting, you have a roof over your head without having to pay for its upkeep. Take the extra money and boost your savings, investments, or whatever adds to your life, says Sethi. And a lease gives you freedom of movement when you’re starting your career or moving jobs.
Sep 12, 2012