I have this impression that it’s seen as a riskier decision to buy a home, knowing you won’t live in it long enough to pay off the mortgage and then sell it when you’re ready to move away, when compared to renting a home. Am I off base on that, and if so, why is this the case?
In: Economics
relevant:
most homes are only owned for 13 years before sold. (median)
with 8 years being the average (probably impacted by flippers)
i had always thought, like perhaps the OP, that when you buy a home, you should expect to live in it until you pay it off, or at least mostly pay it off. but that’s not the norm at all.
obviously there are lots of factors, but buying a home could make more sense than renting if you are planning to live in the same area for a decade or more.
wish i would have known that a decade ago… 😬
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