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Originally Posted by Mr.HappySilp

Hmm... let's see if you put it that way. Lets see what happens if you don't pay your landlord rent, your cell phone bill, your cable, your internet, your car lease.... and tell me what happens.

As long you are you paying your mortgage you get to stay vs renting even if you paid rent every money on time there is still a chance of you getting kicking out by your landlord, that's the difference when i say you get a sense of security.

I actually did an excel sheet with mortgage and rate. Since I only need to borrow about 200k for my apartment unit assuming I made monthly payment every month and add about an extra 20k at the end of each year I can have it pay off in 10years or less. So is not what you said that the first 10 years is mostly interest. But we can go on an on about this.

Button line is renting you get less control of the place you are renting and less security, you pay less every month, no need to worry about maintenance fees and you will be paying a landlord till you die or decide to purchase a home.

Owning you have more control, more security but you are paying more for maintenance fees, strata fees and once your mortgage is paid off then you don't have to worry about paying mortgage again.

Is up to your lifestyle and what you want form life. Think you are good with investing and have the funds to grow it overtime? Love to take risk and be free then maybe is renting is good. Feel unconfortable with investing, just want a stable life and willing to settle down? Maybe getting a place is better.

I never said it was a bad idea to buy. I said it's a bad idea to buy RIGHT NOW. I don't really need to respond to the rest of your post since it's all been discussed in great detail already.