How long have you been living in your house, rented or mortgaged, which is better?

I lived with my mom in the countryside most of my life
because she had stroke and a widow
when she passed away, I sold the house
then rented in the city for work
until now....
I was planning to get a mortgage before the pandemic
things were chaotic so it was shelved
now, mortgage shoots up double
ugh!

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WillaKissing · 56-60, M

Mortgages are rising with the interest rates rising, but the home prices are coming back down too. o, it is a double-edged sword, either pay an outrageous price for a home with a low interest rate or pay the same for the same house with a lower purchase price but with a higher interest rate. Damned if you do and Damned if you don't.

I have lived on my current farm/farmhouse since May12th, 2012 when I bought it. Back then low purchase price but a 5% variable interest rate I refinanced two years ago to a lower rate. Like a I said damned if you do and damned if you don't.

1Dogma · F

@WillaKissing well, you're braver than me!
impressive

WillaKissing · 56-60, M

@1Dogma Thank you. Timing is everything when it comes to real estate purchasing, good luck.