|
"Tom" <mailtheisaacs@gmail.com> wrote in message
news:1152065289.677002.187940@m79g2000cwm.googlegroups.com...
> We have been renting for over 5 years now.. and getting close to being
> bored living in apartments..
> BUT, when I do calculations, it never seems to make financial sense to
> buy a house..
Over the long term, it is hard to understand how it could cost your more to
own a house than to rent the same house from a landlord. After all, the
landlord has the same expenses you do, and wants to make a profit as well.
Moreover, there is usually a wider variety available for sale than for
rental, and you have more latitude in changing a house you own to make it
what you want than you do with one you rent.
However, the transaction costs for buying are much higher than for renting,
so you win only if you stay in one place for long enough to make back the
diference.
So if you're planning to move after a few years, and you can find something
you like available for rental, you're probably better off renting. If, on
the other hand, you intend to stay for more than a few years, or you want to
remodel before (or after) you move in, or you cannot find rental property you
like, you should buy.
|
|
Re: Why buy a house?
