Quote:
Originally Posted by The Dawg
Ill chime in:
First timers without knowledge rarely factor in PMI, insurance and property tax (real killer). So yea, things are lovely at first, but if your income takes a hit you could be in trouble.
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if you are in USA in high tax bracket you need to factor in the after tax impact.
in many cases for the single high income individual with no tax shelters buying the property he will live in will be MUCH CHEAPER than paying rent (even with very low down payment) because he can change his withholding to a very low amount.