Buying a home is often considered the ultimate dream. We're culturally taught that 'renting is throwing money away'. However, a 30-year mortgage is essentially renting money from a bank. When you finance a $300,000 property over 360 months, you might end up paying over $800,000 in total. More than half of your hard-earned money turns into bank profit. In this article, we debunk real estate math so you can make the right decision. By renting and investing the difference in safe assets, you can often accumulate enough wealth to buy the property in cash in 15 years, saving a decade and a half of mortgage slavery.
