Forum on mortgage loan
Over time, what you would pay in rent would hypothetically be put toward your investment in the home via your home mortgage payments. The adage that rent is like throwing away money is a little skewed, because you do have a roof over your head and get to benefit from living in the home. Your rent payments, however, are not put toward equity like they would be if they were mortgage payments. If you buy a home with cash and purchase it at fair market value, a home is a solid investment when compared to renting. Most people, however, obtain a home mortgage to purchase a house.