They are not the same AT ALL!
With rent and mortgage payments, you’re paying for housing on a monthly basis. But that’s where the similarities end!
When you pay rent to a landlord, that money disappears into your landlord’s pocket every month, never to be seen by you again.
But when you pay a mortgage on a home that you own, that money goes into your home as equity. Then, when you sell the house, you get allll that money back + more if your house appreciated in value!
That’s what makes real estate such a smart investment–not only are you getting a great home to live in, but you’re also building your wealth and investment portfolio at the same time.
