Originally Posted by
Buck Rogers
So I'm the absolutist because I am interested in both sides?
Interesting POV.
In your example the renter is out 360K and the buyer is out 176K. (by the way, your maths didn't math)
This whole rent/buy conundrum can be summed up with the the 3 F's, cars and houses, with the caveat of length of holding period added.
If you intend to keep a wife, boat, plane, or house for 3 years....then rent/lease.
If you are in it for the long haul.....buy.
If your lenght of "ownership" is somewhere in between.....do some analysis.
I thought every body understood this principle
BTW.... can you show me any post where someone/anyone said buying is ALWAYS the best option? Absolutist me arse.
Well in crewdawgs example the rent was 2300, so the renter would pay 276k... But their 80k down payment plus the delta between rent and the mortgage would have compounded to roughly 240k. (This doesn't even include investing the savings from not paying for mx and upkeep on a house)
My whole point is that it's not always a slam dunk home run to buy, but if you can find a house for the right price and good interest rate and are willing to stay there at least until the rent buy curve crosses in favor of buying, then that's great!