• aesthelete@lemmy.world
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    2 months ago

    Home ownership isn’t necessarily cheaper or better than renting.

    If you’re given a house, paying property taxes and insurance is almost certainly better and cheaper than renting.

    I agree with your other points and overall with your perspective, but not this one.

    Typical property taxes run about 1-2% of the home’s overall value. Unless they were all given multi-million dollar mansions they’ll be paying like 2-4k a year in property taxes. That’s far less than the cost of renting a place of equivalent size basically anywhere. You can probably afford basic homeowner expenses on a job at McDonald’s if you own your place outright.

    • Ragnarok314159@sopuli.xyz
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      2 months ago

      And in a lot of states you don’t need full home owners insurance if you own the place. Would be even easier to live in a home on a McD’s job.