Is my thinking off here? (renting vs owning situation)
Assume a person has $300k in equity in a house. They currently have an interest only payment of $1,700 per month for the house.
A comparable house can be rented in the $2,000/mo range.
Is there any reason not to sell the home and buy equities while renting out a similar house? A similar house is necessary because of dogs that require a yard.
Thoughts? It seems like the $20-30k per year in equity returns way more than offsets the increase in month-to-month housing costs. Also, must factor in no property taxes or maintenance costs which surely tips the scale even more in favor of renting.
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