People commonly think real estate is a great investment because property doesn’t depreciate, but this isn’t necessarily the case anymore. What if you invested your down payment into long term index funds? Is it a better long term investment to do that or rent? Here we invite you to take a hard look at all of the factors that go into your financial readiness of buying a house, and offer some other, unconventional options as well.

In this episode:

• Why do you want to buy? [1:30]

• What costs we need to consider [2:30]

• How much time do you have for repairs? [4:30]

• Remember, you’re not a homeowner. You’re the owner of debt on a home. [7:00]

• Things to consider about location [10:00]

• Is it better to find a place to rent? [11:00]

• Advantages of renting [12:00]

• Information to do a financial analysis [15:30]

• Does it cost less to own than rent? [18:30]

• Moving pieces in the analysis [23:30]

• Your situation is personal and will dictate your decision [28:30]

• Detailed financial analysis worksheet walkthrough  [32:00]

• How to get someone else to pay your mortgage [54:00]

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Resources:

Download the worksheet Dave uses for this podcast here.