Buying vs Renting A Home - Dave Ramsey Rant

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[NicholasBall]

Buying a home is already a very difficult thing to do, unless you pay cash or don’t get a loan from the government. If only my minimum monthly house payment, over the course of 30 years I’ll pay more than double what my home is worth. I purchased before things got crazy so I got a good interest rate. I couldn’t imagine trying to rent or buy right now.

[pwhilby]

Everytime I spend money I can see and hear Dave Ramsey sighing in disappointment. 😩

[opicnojam]

7:36
"I want you to own your house - I don't want it to own you."

[Apothas]

I bought a house after the rent in my 2 bedroom apartment went up to 1700 a month not including utilities. My mortgage on my 4 bedroom house with garage and a yard with taxes and insurance is 1100. That 600 a month I’ve saved has updated and repaired almost everything in my home.

[beej]

Dave, I THOUGHT I was ready to buy a house. I was pre-approved and had some money for a 5% down payment on an FHA. I talked with the lender about monthly payments and kept telling everyone I needed solid numbers and details about the loan. It was surprising how much run around I got. I’m so glad that I found you months ago and started actually taking your advice. If I hadn’t I’d literally be paying HALF of my monthly income on the house I wanted. As a single dad of two, I make a decent amount of money, but making that choice would have been extremely irresponsible at this point.

[darkdragonite]

Been paying rent for 7 years... it’s never gone down. not once.

[MikHutt]

Biggest problem when buying a house is how do you know your job will keep you there 15/30 years . You might lose your job and have to flip burgers . Renting will cost you bit extra but you always free to go for job hunting in different area or even other states when your city have no jobs

[ShreeNation]

Pray for me I'm just starting to save for my future home.

[miissMcLoviin]

Family has been pressuring to to buy a house and I know that I am not ready and this just proves my point. Even though I know they have the best intentions. I know what is right for me. Thanks Dave !!!

[nickdipaolofan]

So basically, owning is always better than renting, so long as you can afford it initially.

[intelligentinvestor]

I love how Dave continually talks about subjects he's touched on. Its nice to be reminded of them, hear them again, and hear his updated opinion.

[caligal]

Smartest thing I ever did was save, save, save, save and I bought my first house with a 50k down payment at 26 years old. Thank you God and my parents for helping me do this :)

[ghiaferrari]

I think both have their pros and cons. Renting has more flexibility with the job security nowadays. While owning gives you more privacy. Just buy what you can afford or even less.

[mannyjeanpierre]

I love when Papa Dave's southern accent comes out. That's when you know its real lol

[dg_]

I understand... people don’t take account to expenses that come into buying a home. $10k to fix a roof, $10k to change the furnace. It’s a lot of money!!

[carpepesci]

I worked with a guy who lived in the same house for 20 years and rented it the entire time. He made a good living and his wife was a nurse who also made good money. When I asked why he rented, he told me that renting freed up money. He had already purchased and paid off a retirement property. Since the property was by a lake, they used it as a summer house while they were still working. He said he wouldn't have been able to do that if he had to pay 10K for a roof repair like his landlord did two months earlier.

[ChrisInvests]

Dave's house buying principles are very conservative but you can't really go wrong with them 😀🤷‍♂️

[indiasimone]

Some people enjoy renting some enjoy buying a home. I prefer renting, I have plenty of space all amenities, huge balcony, fireplace, W/D. No debt. I like the idea of moving if I want to and not having to worry about repairs, maintenance. I also think owning a home is awesome if that fits you. Namaste 🙏🏿💙

[krunkformula]

Love this! Dave has the right idea. Long term BUY! Rent is great for temporary situations until you can get into a proper situation to buy.

[tatripp]

I just had to fix a roof and get a new hvac system in the same year. Dave is right.