re: First time home buyer - need advice

quote:

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there is a LOT of money thrown away on owning a house.

1) property taxes
2) Maintenance
3) repairs
4) interest

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So, you are saying that as a renter, your landlord just pays this stuff for you and you get a good deal only paying rent?

Of course the rent you pay covers all these expenses (and more since the owner can't claim homestead extention, plus is looking to make profit).

Difference is you opening yourself up to risk and locking yourself into something. I bought my first house a year out of school. But I also knew that if I moved with my company, they paid closing costs, agent fees, etc.. so as long as my home value didn't go down, I was good. Sold 4 years later and made a few thousand. If I didn't have that deal, I'd have lost money and rent would have been worth it.

Rent might very well be a better option. Especially for the OP....why would you ever buy when applying out of state? But to say the money thrown away on owning is ever the same as renting something equal is false, unless the landlord is losing money or bought way before prices rose in the area and is too stupid to set his rent appropriately.