Rent or buy a residential property?

Usually you can save more by renting rather than by buying. To buy a house you have an effective drop of 20% or more just in purchasing costs and taxes. Its effectively the same as a lump sum investing into stocks and having a 20% drop the next day, just your expected return is much lower. You also hold illiquid goods. In most developed countries the break-even point with rental is 6 to 20 years. Rent being half of the returns. So you can expect double the time for breakeven. I'm not even talking about the maintenance costs one should expect to pay.

In most of the developed world it is the owner who is the slaveto the renter once the contract has been signed.

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