Quote:
|
Originally Posted by Incinerator
Why rent when you can buy at the same price?
|
Let's see. I own a place, but if I were to rent it, I would probably be paying $1000/mo or so. Instead I own it, so I pay $1300/mo on my mortgage, $130/mo on property tax, $350/mo on utilities, I'm not sure how much on house insurance ($500/yr? The wife takes care of that), probably about $50/mo on upkeep, and probably a few other expenses along the way.
Obviously, I'm getting somewhere by owning the place, as the value should go up and eventually I'll actually own the place, but I can see why some people get stuck renting. Owning a place is not cheap by any stretch of the imagination.