In the first house I rented, it was in pretty bad shape, so I spent a few bucks on some basic repairs including replacing all the 1950 vintage skeleton key door knobs with modern door knobs. It was great, basically sneakily ended up with a much nicer place than we were paying for.
Unfortunately, rents skyrocketed over the next few years so the landlord pulled a "my sister is moving into the house" so he could sell it, but it was a nice deal while it lasted.
Unfortunately, rents skyrocketed over the next few years so the landlord pulled a "my sister is moving into the house" so he could sell it, but it was a nice deal while it lasted.
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Obviously you have to make sure you're not overextending yourself, but one of the nice things about buying is that you're trapping your housing cost in time (especially in the US where you can get a mortgage rate for as long as the mortgage). If inflation would have caused your rents to rise, your mortgage stays the same so you're slightly better off every year.
Hopefully what's happening now is going to completely change the housing market so it's sane again.
Hopefully what's happening now is going to completely change the housing market so it's sane again.