Aside from her probably having rich parents, that’s just horrible advice for any average person. If you can get a mortgage and afford the maybe slightly higher payments at first, renting is just a horrible idea.
Renting: monthly payments only go up, deal with a shitty landlord, and in 30 years you’ll still be paying rent.
Mortgaging: monthly payments can only go down (by refinancing when rates are lower, and never get a variable rate mortgage), no landlord, and in 30 years you’ll own a home and have no more payments.
Aside from her probably having rich parents, that’s just horrible advice for any average person. If you can get a mortgage and afford the maybe slightly higher payments at first, renting is just a horrible idea.
Renting: monthly payments only go up, deal with a shitty landlord, and in 30 years you’ll still be paying rent.
Mortgaging: monthly payments can only go down (by refinancing when rates are lower, and never get a variable rate mortgage), no landlord, and in 30 years you’ll own a home and have no more payments.
I’m just waiting for the news that she has a vested interest in rental properties at this point.