Quote:
Originally Posted by polak
Rent is not cheaper than a mortgage payment right now though. They're still floating around the same. It's actually still cheaper to buy in my area. My mortgage+condo fee+tax for my 2 bed 2 bath would get you a similarly appointed 1 bed 1 bath. At least when I was making the choice to rent or buy a few months ago.
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I have no doubt that there are a lot of circumstances where it can be better to own than rent. I just was taking a little bit of exception to Realtor 1 stating he blew $15,000 in rent while not taking into account that sunk costs associated with owning a $400,000 house which probably be right around that $15,000 mark. Maybe it would have been a $1000-$2000 net advantage over renting, maybe renting would have been a similar advantage, but it is in no way accurate to imply that it cost him $15,000.