• partial_accumen@lemmy.world
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    5 months ago

    We have these in the USA too. Its called an " interest-only mortgage".

    that’s just renting except you also have to pay for maintenance.

    Lots of things you can do here that you can’t do renting:

    • Since its you are the owner house you can make any changes you want to it
    • If the property appreciates in value because of market conditions, that’s YOUR money thats not the landlords money
    • You decide who lives in it. Landlord can’t tell you no
    • Pets if you want them
    • no security deposit
    • mortgage payment stays the same forever, this “rent” never goes up in price

    All of that said, I don’t recommend interest-only mortgages in the USA because a home is one of the most accessible investments a person can have with strong legal protections keeping others from taking it from you via legal means.