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PunchandPie PunchandPie 22-25 8 Answers Feb 15 in Health

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A place for your children to call home.

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I'm not purchasing Anything when I pay rent

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*paying for* ?

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Renting , means borrowing , Purchasing , means buying to keep , class dismissed

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Ok. What are you really paying for when you pay your rent?

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A roof over my head

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30 years of your life to the bank

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With rent, your not purchasing anything.<br />
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With a mortgage payment, you're not purchasing anything either. A mortgage is a lean against the property you own outright. You hold the deed, not the bank. With a car loan, you don't own the car until you lay it off and get the title. A lot of people don't understand that distinction.

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Thanks for pointing this out. I should have reworded this for my original intent: WHat are you really *paying for*?

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Ah, ok... you're getting at something called imputed rent or imputed income.

When you rent a property you don't own, you're losing that money to a landlord.

When you own your own property and pay for it, you're paying yourself rent...

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