Comments by "" (@Green__one) on "Is It Okay to Rent?" video.

That's what happened to me. I got a rental increase notice for a 55% increase in my rent, and immediately went shopping for a house. The end result was a mortgage cheaper than what the new rent would have been. Now utilities are slightly more, and property tax has to be accounted for, plus property insurance and maintenance, but I also went from 650sqft to over 2000sqft, and I don't smell the neighbour's marijuana or hear their kid bouncing balls off the common wall anymore. The big thing that usually gets left out of these videos is that rent vs buy is not really a financial decision, there are some financial aspects to it, but it's a lifestyle decision more than a financial one. I don't mind doing home maintenance, cutting the grass, and managing a bunch of bills in exchange for more space, and more autonomy. But some people prefer the lower maintenance that comes with renting, they don't want the big yard they have to mow, or to have to worry about a burst pipe or crumbling roof. Some people want to move around every couple years. Renting is a different lifestyle to owning. You can't look at it purely from a financial point of view.
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@3of11 "time value of money" is a bit of a fiction for most people. Don't get me wrong, there is value to your time, but it's usually not monetary. My time is NOT worth my hourly wage when I'm not at work, my time is only worth what someone is willing to pay for it. My employer isn't willing to pay for it after hours, so I don't have the option of making money that way. Similarly, the hiring out thing isn't generally done by most people even if they do have the longer commute as they simply can't afford it (a maid? who can afford that?). Side hustles are great, but the majority of people aren't making any money that way either. TLDR: If you don't have the option of working an extra hour at your job, or a similarly paid side-hustle instead of the extra hour of commute, your time isn't actually worth your hourly wage.
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When I bought my house, the PR ratio would have been in about the 11-12 range (Calgary, Canada). Today though, while rents have increased, not by nearly as much as house prices. So today's PR would be in the 25-27 range. (All PR numbers pulled from VERY rough estimates). Starting to wonder why anybody would be a landlord these days, the rents wouldn't even cover the mortgage on the property, let alone make a profit!
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