Renting vs Buying A Home (The Truth)

Should you rent or buy a home? In this video, we'll touch on financial and non-financial factors that you need to take into consideration. We also do a live analysis using a rent vs buy calculator to find out the real numbers.

MY FAVORITE TOOLS & RESOURCES

MY OTHER SOCIALS:

Chapters:
00:00 Intro
00:46 Buying Renting Pros
03:58 Buying Renting Cons
06:14 Policygenius Spot
07:59 The Math

WHO AM I? 👇
If we haven’t met before - Hi 👋 I’m Marko, and I’ve been investing since 2006, and I got my finance degree in 2010. My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos reflect my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. I am merely sharing my opinion with no guarantee of investment gains or losses.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.

[WhiteBoardFinance]

My Home Affordability Spreadsheet (Join and go the membership section of the comments):

[WaLuiiiGi]

No idea why the algorithm doesn’t like your channel. You’re definitely in my top 3 of financial channels because you don’t overhype and everything is extremely straight forward. Keep up the good work.

[BryanLawhorn]

The algorithm doesn’t like you because you’re educating the masses.

[DJG]

Now this is a throwback white board video 👍🏼

[MandyLuke]

What if you had the bulk of the cost upfront without a lot of incoming financial pressure? I recently turned 22, and my aunt left me a significant inheritance. With enough to cover most of the costs involved in getting a house but I'm now weighing whether it's a good idea at this stage in my life as there are a lot of conflicting views or if there are better options because I'll rather invest the money into something meaningful and ensure it grows, rather than risk not making the most of it squandering it.

[LalitDevraj]

Algorithm is algorithm but as a long time viewer, the ending not being a joke and just real talk is exactly what I needed to be reinforced upon - thank you Marko, forreal real 🙌

[hangwithsean]

Man, you got traded from the Mavericks to LA and now you’ve decided to make YouTube videos, Luka really can do it all.

[reeddavis]

You should do a renovate vs buy vs build for a home next!

[GregorF-HansS]

Definitely good value in this video.
I have owned and rented. I'm currently renting as I like the flexibility. I can practically go anywhere anytime. Selling a home and buying one for the same price will cost you a minimum of 10% (at least here in MD) unless you can make a deal without real estate agents. 5% real estate agent, 2 transfer tax, loan origination, title insurance, appraisal fee, etc... Not to mention the cost of fixing up a home to get it ready for sale. As you stated, one really needs to own the home for at least 5 to 10 years. I thinks it's probably closer to 10 years for it to make sense.

[ABQFLIGHT]

Only thing I'd add is when you buy a home (younger buyer) don't think of it as an "investment" but think of it as home. If you make a gain great, if not it's still home. I've always thought about my investments and my home as separate.

[jimmyboy]

Just so you know, you are finally showing up in my recommended. I guess I have to comment in order to keep you there.

[liadelvalle]

For some reason I haven't received any of your videos in a very long time. So good to hear from your channel once again.

[trustinjesus-]

This generation def thinks that buying is the next best thing but it's not always a financially better decision, many do it as an emotional one. You have to factor in all the phantom costs of buying a house and compare that to investing that money and align it to your goals! Don't just buy a house because you can!

[atterion]

Commenting for the algorythm, I learned so much from you. One of my favourite YT channels!

[magellanicspaceclouds]

The rent vs buy calculator is great. You'd be surprised how many people would benefit more from renting than buying.

[runningrock]

great video, Marko!

i missed it though, what was said at 5:43 ??

[dylpykldrums]

Gotta be honest though. I was paying $700 more for an apartment half the size of my home. Was there amenities? yes. But nothing that was worth using. Pool always broken and the gym was worthless. We had crime issues even in a nicer gated community and anytime I had maintenance issues, besides very large issues, they would try to wait on me to get frustrated and fix it myself. On top of that, rent went every single year without fail and I never had space for my vehicles to park. Not my last but some complexes dont even allow you to have a company vehicle, so if you get one as a job perk or work independently you are punished for having those perks. Not to mention if you are there long enough they will make it hard to get a deposit back because they will insist on replacing a lot of stuff just do to regular wear and tear anyways. Honestly, as scary as it is to own a home now, my last two years renting made me wonder what the point of renting even was. If you rent an actually home, its usually not $1600-2000 and many of my friends had to move unexpectedly when the homeowners decide to sale. Or when the cost of taxes keep moving up and so does their rent. Or worse, the private renter is slum lord (not a big company) and has issues replacing major components. We were able to get into a decent cost home for barely anything. The owners got negotiated with since they had a lot of equity from buying pre-pandemic. So we got them to pay closing costs and were able to get a loan for downpayment on top of our money down to hit the 20% mark. It took a lot of saving, overtime and credit building but we got it done. We have somethings we would like to update and cannot just up and move whenever we feel like it anymore, but being ready to settle down has made purchasing a home seem like not a bad move. While I agree renting has its perks, unless you are saving wisely or planning on moving, I think its worth it to eventually get into the homebuyers club and build equity for yourself. Renters are so harshly abused for being stuck in that situation and it seems the perks of renting are going away. Not to mention, its also not very affordable anymore. A home might be bit more expensive but when you finally find a deal or negotiate one I think its wise to take it if you will not end up house poor. I always say if you are young, get roommates or live at home as long as you possibly can! Start small and work your way up because right now the world is not nice to homeowners or renters unfortunately. I appreciate the points in your video though but a few things we just gotta be realistic about. Even the more rural area's are trying to ask for city prices on rentals these days.

[xentaatnex]

Buying the home is one thing, now keeping it is another.

[KevinSatler]

That rent price is in line with a nice 2 bedroom apartment or rmslightly run down 3 bedroom townhouse. The rent need to match a 3 bedroom single family home in a nice neighborhood, which is what get for 400k.

[ericleslie]

Best Financial Info and Channel in available