# @travelingtoretirement on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/DFtN2rYRujb
- **Gondola URL:** https://gondola.cc/posts/63267709-travelingtoretirement-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/8d3cf9b4a3.jpg
- **Posted:** 2025-02-05T21:41:28.000+00:00
- **Account Owner:** Mel⎢Personal Finance (@travelingtoretirement) — https://gondola.cc/travelingtoretirement

## Caption

Run the numbers people!!! 

Hot take: Buying a home is not always the best financial move.

When we started looking, the starter homes in our area were going for $650,000+—and that’s for a 3-bed, 2-bath that still needed work. Instead, we opted for a small condo at half the price. But honestly? Financially, we would’ve been better off continuing to rent. Here’s why:

1️⃣ Your mortgage is just the beginning. Property taxes can jump, surprise repairs will happen, and ongoing maintenance costs a lot more than you think.
2️⃣ The upfront costs are brutal. Down payment, inspection, closing costs, moving expenses, and don’t forget furnishing that bigger space.
3️⃣ Your money gets locked up. Home equity is not liquid and had we invested our down payment instead, we would have had a much higher return on investment. 
4️⃣ Flexibility takes a hit. Need to move for a job? Renting out your place might not cash flow, and selling too soon could mean losing money after realtor fees. 
 
Let’s be real: Buying pre-2020 was a very different game. Prices were lower, interest rates weren’t wild, and the math often worked in your favor. Now? Not always true.

Had we bought that $650,000 house, our housing costs would at least double. We weren’t willing to make that trade-off, so we funneled that money into travel because that’s what brings us the most happiness right now. Some people love homeownership and want to put down roots. We’re just not there yet.

So if you’re a millennial feeling like you’re falling behind because you haven’t bought a house, you’re not behind and you’re not alone. And you definitely don’t have to buy just because everyone says you should.

Make the decision that’s right for you. And for the love of spreadsheets, don’t forget to factor in the phantom costs of homeownership.

IC: @chlobow_to 

#financialindependence #renting #homeowner #personalfinance #millenialmoney #debtfreecommunity #mortgage #travel #travelcouple #couplestravel

## Stats

- **Views:** 20,866
- **Likes:** 998
- **Shares:** 0
- **Comments:** 61

## Tags

financialindependence, couplestravel, renting, millenialmoney, homeowner, personalfinance, mortgage, debtfreecommunity, travelcouple, travel

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