Rent vs buy at 27, I finally picked a side after 4 years of flip flopping

I kept going back and forth since I turned 23. Renting meant flexibility. Buying meant equity. My buddy in Denver paid $1,800 a month for a 1 bedroom and I was paying $1,100 in Pittsburgh for the same thing. But my landlord raised rent $200 each year, so after 4 years I was at $1,900 and it hit me, I'm just building someone else's savings account. I put 5% down on a $185k two flat. Rent from the downstairs unit covers $1,050 of my $1,400 mortgage. This is month 8 now. No regrets, but I will say the first 3 months the water heater died and the tenant's toilet clogged on the same weekend. Has anyone else made the jump and then had a 'what did I sign up for' moment before it got better?

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jade_butler20d ago

Your tenant's clogged toilet and dead water heater in month one just means you skipped the part where bad luck waits till you own the place.

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