Has anyone else deprioritized getting a house/condo and, instead, allocated all of that money towards retirement? (no debt to pay off or emergency fund to build)
I think I’ve accepted I’m going to be an eternal renter if I ever want to retire, yet, it would obviously be nice to own a house and build equity. Should I diversify my savings strategy? It’s going to take forever to save enough for a down payment and all other associated costs unless I get inheritance.

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Owning a home sounds like a pain in the ass. I know renting isn’t the most financially savvy thing to do, but I love my building, amenities, and all the conveniences of renting.

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Agree! Home ownership sounds like a royal annoyance that adds extra chores to your list. Not to mention a long commute

Home ownership is sort of a forced savings method. As long as you are disciplined and maxing out all your retirement accounts and properly allocating that money away I think renting is fine (I own a home)

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I’m maxing the crap out of them, yes!

Paying rent every month substantially increases your capital expenditure in retirement. It’s not just the equity that you build! Do you think rent will be less in 30 years than it is now?

likesmart

I agree - financially it absolutely makes more sense to own in the long run.

I’m in the Bay Area, so with the insane cost of buying + living in a rent controlled unit + strong renter protections, it makes sense zero sense to buy.

Same as you - maxing out 401k and other retirement vehicles. After that I chuck leftover money into an index fund and hope for the best.

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Relieved it’s not just me, but I also understand why rent is a scam in terms of financial savviness. Not sure that there’s really an ROI to continuing to save in a HYSA (cash) for a down payment when the prices are insane and it’ll take forever to get there. Seems like chucking all of it into different retirement accounts may be better. Absolutely open to a devil’s advocate reply.

Me at the moment mainly because not enough money to afford a house 🏠

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Definitely yes because with this current market it’s too much to afford a house anyway

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