Quote:
Originally Posted by GullFoss
Im finding owning to be slightly cheaper than renting. Rent would be $1450 per month and im paying $1200 to own = interest on mortgage (650), lawyer fees with real estate and mortgage at (30), property taxes (100), condo fees (320) and upkeep, renos, and maintainence ($100).
But as you move up the ladder on the value scale i think renting might be cheaper if you assume no price appreciation. But thats tough to do...because even with house price inflation of 1% per year, you should come out ahead on owning
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What about the lost opportunity of having that capital tied up in real estate versus a diversified portfolio? That has to be part of the calculation. Well, that and risk of having it in one asset.