Warning: Some posts on this platform may contain adult material intended for mature audiences only. Viewer discretion is advised. By clicking ‘Continue’, you confirm that you are 18 years or older and consent to viewing explicit content.
Home ownership isn’t necessarily cheaper or better than renting.
If you’re given a house, paying property taxes and insurance is almost certainly better and cheaper than renting.
I agree with your other points and overall with your perspective, but not this one.
Typical property taxes run about 1-2% of the home’s overall value. Unless they were all given multi-million dollar mansions they’ll be paying like 2-4k a year in property taxes. That’s far less than the cost of renting a place of equivalent size basically anywhere. You can probably afford basic homeowner expenses on a job at McDonald’s if you own your place outright.
If you’re given a house, paying property taxes and insurance is almost certainly better and cheaper than renting.
I agree with your other points and overall with your perspective, but not this one.
Typical property taxes run about 1-2% of the home’s overall value. Unless they were all given multi-million dollar mansions they’ll be paying like 2-4k a year in property taxes. That’s far less than the cost of renting a place of equivalent size basically anywhere. You can probably afford basic homeowner expenses on a job at McDonald’s if you own your place outright.
And in a lot of states you don’t need full home owners insurance if you own the place. Would be even easier to live in a home on a McD’s job.