Quote:
Originally Posted by Lt.Spears
If were talking about rental rates, most of the rentals i saw when looking at properties were from 1100-1900/ month.
With 10% down a mortgage fora similar property was about 1500-1700/month over 25 year amort.
Just made sense to buy.
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What if you don't have the 10%, and saving it isn't in your near future? At 32, with a large student loan to pay off and 3 people to support, my income is not enough to have much hope of ever owning a house.
You also have to factor things like insurance, property tax, and cost of up keep into your equation. Those easily push purchasing a house out of reach for many renters.