re: Renting vs owning

quote:

---

You've left out the down payment that many do have to put down. As in, you got 0 down because of you unique situation that I would guess a majority don't have.

---

A good portion of first time home buyers would be eligible for a USDA RD loan (depending on location) or downpayment assistance for an FHA loan. Even without that assistance, the down payment on $155,000 is less than $5,500 for 3.5% down. That would require PMI but that would be less than $200 per month. I would still rather pay $1,000 per month for a house note than rent in the same amount for a comparable house. Everybody is different, though and there's nothing wrong with renting. At least you don't have to worry about maintenance and repairs as a renter. That's worth some money in itself.