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re: Rent or Buy?
Posted on 3/3/15 at 8:23 am to strikingoutsince87
Posted on 3/3/15 at 8:23 am to strikingoutsince87
You should watch these videos to learn how to analyze buying vs. renting.
LINK
You're not just throwing money away on rent. You also should think about the potential investment return you lose when you make the down-payment. Also, in the first 3 years of your mortgage, you're paying about $2 in interest for every $1 in equity you gain on the principal.
Amortization schedule on $100k mortgage
LINK
You're not just throwing money away on rent. You also should think about the potential investment return you lose when you make the down-payment. Also, in the first 3 years of your mortgage, you're paying about $2 in interest for every $1 in equity you gain on the principal.
Amortization schedule on $100k mortgage
1
Posted on 3/3/15 at 9:01 am to mohalk
With a time horizon of just 36 months, I'd rent...you know it's going to be short term, so find some place decent yet affordable. Don't be tempted into upscale rental....keep it modest and save the difference in rent between what you get and what you'd really want; put that cash toward your eventual purchase elsewhere.
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