Originally Posted by
m3113n1a1
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!
Unless you have a fixed 10 year lease (not likely) you can count on your rent going up every 2 years by 10%ish. No landlord will lock in a rent for more than 2 years and no landlord is going to forgo an increase unless the market tanks and housing becomes significantly more affordable. I did 2 year leases and 10% on renewal, that's standard. Some did 2 year lease with a 5% or market increase at 12 months.