Nicole Lapin

Sure.

Can you explain?

Hold on to your wallets.

Money Rehab will be right back.

And now for some more Money Rehab.

Okay, let's get into it.

Yes.

You say- Argue with me.

That buying is almost always better than renting.

A big pro for that is that people say renting is throwing away money.

Sure.

And buying is not.

I'm sure that's one of your arguments.

there are massive tax benefits to owning property i think the idea that renting is throwing away money is just incorrect it buys you flexibility it buys you safety it buys you optionality it buys you shelter i mean nobody says i'm throwing away money because i'm buying groceries or health care i think there's a cost of living there's a lot that you don't get back

from homeownership either.

You don't get back closing costs, you don't get property taxes, you don't get back the insurance premiums that you paid.

And yes, you might get a tax write-off, but that's making the biggest financial decision of your life based on a write-off.

It's like the tax tail wagging the dog.

Or homeowners association fees, if that makes sense, or repairs.

These are things that you never, ever get back.