To rent or not to rent, that is the question....
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Estimated monthly principle & Interest
$1000 (4.25% interest 30 year loan) Estimated monthly principle & Interest
$1500 (4.25% interest 30 year loan) |
Estimated monthly rent
$1000 Estimated monthly rent
$1500 |
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...whether tis nobler in the mind to suffer the slings and arrows of dastardly landlords, or to take arms against the casting away of innumerable dollars and say to all who follow I am a Home Owner...
My apologies to Mr. Shakespeare....
Renting or owning is a bit more complicated than my weak attempt at theatrical humor, but for the most part it comes down to one question, "Will it cost me less in the long run to buy or rent".
Unfortunately, what a lot of people forget when making this decision, is to take into consideration the tax deductions that home owners are allowed, or that unlike renting, a home you own is actually an investment. Even after the worst wipe out in real estate history, home owners are once again gaining equity in their homes.
The best way to get a feel for what makes the most sense for you, is to look at the data on a rent vs buy calculator, like the ones above.
My apologies to Mr. Shakespeare....
Renting or owning is a bit more complicated than my weak attempt at theatrical humor, but for the most part it comes down to one question, "Will it cost me less in the long run to buy or rent".
Unfortunately, what a lot of people forget when making this decision, is to take into consideration the tax deductions that home owners are allowed, or that unlike renting, a home you own is actually an investment. Even after the worst wipe out in real estate history, home owners are once again gaining equity in their homes.
The best way to get a feel for what makes the most sense for you, is to look at the data on a rent vs buy calculator, like the ones above.