Quote:
Originally Posted by V_RocKs
When I moved into my house, which I rent, the owner wanted $725,000. It is now worth $489.000...
When my lease is up I will have paid $90,000 in rent.
I am now considering buying the house at a $146,000 savings rent included.
My mortgage payment will now be around $2600 which is close to my rent payment. Had I bought it when I moved in it would have been $4200.
|
guess the moral of the story is timing is everything... if you had said "why rent?" and bought instead at the start, you would have been down all that equity and had higher payments as well
.... so it should be said that renting can often be smarter than buying depending on the market and other factors
