Yesterday I was chatting with an acquaintance at work. The topic came to the huge amounts of money I’ve spent on cars. The guy’s traditional Chinese sensibilities went straight to: why not buy a house instead? Such a massive waste of money switching cars every few years (especially considering what I’ve bought in recent times). It makes far better financial sense to put it towards a house I can live in, instead of paying rent, which is what I’m doing now.
Well, at least that’s what that acquaintance thinks.
I obviously disagree. Purchasing a home is not for everyone, no matter how much the “American dream” is drilled into us. Renting a place is not throwing money away, or paying another person’s mortgage. Whether buy or rent, the mechanism is no different: exchanging hard earned cash for a roof over the head. To say buying is automatically superior to renting for any individual is kind of absurd.
What about the upkeep of a home that you as the homeowner is responsible for? If the main house drain is clogged up, I just have to call the landlord. It’s the landlord who has to stress about fixing it (rather quickly, too: I’m paying money for a functioning unit, after all). For me, renting is far less stressful, and that is worth any money I’m perceived to be “throwing away”.
Besides, who the heck can afford a house in San Francisco on a public worker’s salary anyways.
I can’t refute that my spending habit on cars is incredibly wasteful. But I love cars; what’s the point of making money if you’re not going to spend some of it on frivolous things that bring you joy (shoutout to Marie Condo)? I said to that acquaintance: the thing about money is, you can always make more.
The best view of a workday.