Monday, March 5, 2012

Renting vs. Buying

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During a lazy Sunday afternoon at home, the subject of home ownership came up--we were looking at what rent will cost us this year--and it got us thinking about what might be available in our area in the realms of a "starter home."

Now, keep in mind, we love our little rental and there are a lot of benefits associated with it which require consideration; nevertheless, the obviously prudent thing to do was begin comparing renting and owning.  What we found is that a lot of the arguments are subjective and conditional!

If you're seeking some straight financial logic, this handy calculator from the New York Times can tell you when it would behoove you to make the transition, based on your specific situation.  And for those of you in the market currently, happy hunting!!

1 comment:

  1. we were already living in a house previously but wanted to move to a bigger one. so we rented our old house out since it wasn't a good time to sell and we bought a new one!! it's a tough decision, definitely pros and cons to both!

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