Re: Is my thinking off here? (renting vs owning situation)
Owning
Pro:
Mortgage Interest Deduction (approx $9k/year)
Lower Per Month Cost ($3600/year)
Probable Appreciation in Value
Cons:
Property Taxes (?)
Maintenance (?)
Insurance (?)
Possible Depreciation in Value
Loss of Investment Income from Equity (?)
Fill in the blanks and run the numbers, with an allowance for the cost and hassle of moving. Also remember realtor percentage of pruchase price and anything that would need to be done to the house before selling.
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