Would you rent or Pay a mortgage???

@suzieque (2336)
Canada
November 5, 2006 4:23pm CST
Hmmm... that's a tough question because, if you pay rent, you don't have to pay for property tax and sometimes the utilities are included with your pay. However, when you own a house, you can rent the bottom suite if you have one to help pay for the mortgage. Which one would you choose?
7 responses
• United States
12 Nov 06
I believe in Buying your home....I rented for years. Then I buckled down sold everything I could and Bought My first house. It is better to buy because in a way you are paying yourself. And the value ( at least here in California ) is always going up so your money is working for you.. suzieque, You have mentioned this bottom suite many times in other posts. What is it? I'm not familar with the term.
@suzieque (2336)
• Canada
12 Nov 06
Bottom suite, or basement suite it's basically the bottom floor with a bathroom, rooms, living room that you can rent to others.
• United States
12 Nov 06
I get it now. Thank you
• Canada
12 Nov 06
pay mortgage. its like paying rent with the incentive of receiving a house in times to come.
@suzieque (2336)
• Canada
13 Nov 06
Thanks for the comment.
• United States
12 Nov 06
none i live wit my rents
@suzieque (2336)
• Canada
13 Nov 06
Thanks for the comment.
@smuggeridge (2157)
11 Nov 06
if i could afford the deposit for a house i would buy one and have a huge mortgage, at least your getting something for your money, once you've paid the mortgage you have a house which is a major asset, if your renting your money is just leaving your bank and you get nothing in return in the long term
@suzieque (2336)
• Canada
12 Nov 06
very true.
@darceny (320)
• United States
11 Nov 06
I currently rent an apartment. I am saving money to buy a house.
@suzieque (2336)
• Canada
12 Nov 06
Good luck for when you buy a house.
@wildpvcgal (1085)
11 Nov 06
I rent at the momemt and cannot afford my own place. I think if i could afford my own place it would have 2 b a pretty big place so i could rent a room out and have that help the bills and stuff. xx
@suzieque (2336)
• Canada
12 Nov 06
Thanks for commenting
@mommye (169)
• United States
12 Nov 06
After about 10 years of paying rent (someone elses mortgage), I finally have my own. I heard