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Ask Paula: The stock market is down - Can I still retire?
Afford Anything
Rent Is an Expense, but Mortgages End
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People say, rent is forever, but mortgages end. Their reasoning presupposes that your mortgage is your only payment. Even once you own your home free and clear, you still have to pay a substantial amount of money on things like maintenance repairs, renovations, property taxes,. Home owners insurance, utility bills or municipal usage fees. You will spend your life paying for housing in one form or another. Would i rather pay rent in perpetuity, or would i rather pay home ownership costs in perpetuity? To answer that question, you need to see the price to rent ratio in the area in which you live. If you live in a high cost area, it ay be cheaper to pay rent than
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