Why do people buy houses they don’t plan to pay off? Most people don’t spend their entire lives paying off one house, so what is the financial benefit of getting a “starter home”? I’m new to the economics of real estate and I’ll take any wisdom offered.
In: Economics
The point is that landlords don’t work for free so by owning a home and renting to yourself, you can absorb whatever profit landlord usually gets.
Being your own landlord also means you have rent control and decision over additions, paint, maintenance and improvement.
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