1 million in cash

You spend 4,200 a month
It takes you 20 years to spend it all
1 million in a mortgage
You pay 4,200 a month
You have to pay it back for 30 years
1 million in savings
Based on the current bank interest rate of 1.5%
The interest for one year is 15,000
Over 30 years, that’s 450,000
Rent a place for 1,500 a month
If you do the math like this, for your whole life
You could get free housing
The interest is enough on its own
The 1 million principal is still yours
But if you take a 1 million loan to buy a house
With a 30-year mortgage, you’d have to pay back 1.54 million
From start to finish, the renovation cost over 200,000
After paying for 6 years, you’ve paid back 300,000
At most, you can sell it for 700,000
You still owe the bank 1.2 million