Guys here’s what renting vs. buying look like: RENTING: Lili and her partner find a nice small 2-bed condo to rent for $2,800/month. Pros: * Easy to move anytime * No property taxes or repairs * Lower upfront costs Let’s assume a 2% increase per year (very normal in Vancouver). Here’s how that looks: * Year 1 rent: $2,800/month * Year 10 rent: ~$3,400/month * Year 20 rent: ~$4,150/month * Year 30 rent: ~$5,000/month Total rent paid over 30 years: About $1.3 million all gone, with no equity. What
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Bank of America: Zero-down-payment mortgage for first-time buyers
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Don’t make this mistake… If you’re buying your first home, it’s easy to fall in love with the dream. More space, a yard, and that feeling of finally owning something that’s yours. But what most first-time buyers don’t realize is that the cost of ownership is more than just the mortgage. Here’s what I’ve seen happen 👇🏻 1️⃣ Budgeting only for the monthly payment You think “$2,800 a month is fine.” But you forget about property taxes, insurance, utilities, and maintenance — things your landlord u
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