I’ve Spent Over $80,000 on Rent. Here’s Why I Have Zero Regrets.

“Back in my day, a house cost $50k and a handful of raspberries.”

Six years ago, I was paying $530 a month to rent a room alongside three other roommates. Today, I pay $2,600 a month to rent a townhome where I live with my forever roommate — my wife.

If you do some ugly math, I have spent over $80,000 on rent since 2020.

Gross.

But here’s the thing. If I could go back, I wouldn’t change a single thing.

Because somewhere along the way, renting became a dirty word. And I think it’s time we had an honest conversation about that.

The American Dream Nobody Talks Honestly About

At some point, the American Dream became synonymous with owning a home. And owning a home became the only road map for building real wealth.

White picket fence. Two-car garage. A 30-year mortgage with your name on it. Daily panic attacks from the weight of being house poor.

Ahh. The American Dream.

And if you don’t have that? You’re behind. You’re throwing money away. You’re renting. Which apparently is one step above just lighting your paycheck on fire every month.

But I have really good news for you.

There is not just one way to build wealth. And you are not inherently doomed if you are still renting at 30.

The Hidden Costs of Homeownership Nobody Puts in the Brochure

When you buy a home, you are not just buying a home. You are signing up for a long list of costs that have nothing to do with building equity.

A down payment that pulls directly from your investing power, typically 10 to 20 percent of the purchase price.

A mortgage where, in the early years, the majority of your monthly payment goes toward interest. Not equity.

Property taxes that never go away, even after the mortgage is paid off.

Homeowner’s insurance, HOA fees, and maintenance costs that average 1 to 2 percent of your home’s value every single year.

Zero flexibility to pick up and move without a significant financial transaction.

None of that is building equity. That is just the cost of owning.

I am not saying homeownership cannot build wealth. My wife and I are actually planning to buy within the next two years and have been saving up a solid down payment. In the right market, bought at the right time, with the right financial foundation, a home can absolutely be a powerful asset.

But I do not think you should feel pressured to own simply because it has been sold to you as the only sign of wealth and stability. That is the part I want to push back on.

The Question Nobody Ever Asks Renters

When someone finds out you are renting, the immediate assumption is that you are wasting money. But here is the question that almost never gets asked.

What are you doing with the money you are not spending on homeownership?

If you are renting, there is a good chance you have excess money left over each month that a homeowner in your position simply does not have. And what you do with that money is what actually determines your financial future.

For my wife and me, renting has been a genuine advantage. Here is what it has allowed us to do.

Invest more in our retirement accounts than we could if we were carrying a mortgage right now.

Save for a fat down payment so that when we do buy, we can lower our long-term cost of homeownership significantly.

Spend on travel and experiences that matter deeply to us without feeling financially stretched.

Keep our options open. This last one does not get talked about enough. We are not yet sure exactly where we want to be planted for the next five plus years. Renting has allowed us to try different places so that when we do buy, it feels like a confident choice and not a trap.

So Should You Rent or Buy?

There is no universal right answer here. It depends on your market, your timeline, your financial foundation, and honestly, what stage of life you are in.

What I do know is this. Renting is not throwing money away if you are being intentional with the difference.

The real question is never rent versus buy. The real question is what are you doing with your money either way.

What I Actually Pay in Rent and How We’re Saving for a Home

Want to see the full breakdown of what my wife and I pay in rent each month, how much we are saving for our down payment, and what our actual plan looks like?

I went deep on all of it in this video.