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re: When does it make sense to buy vs rent?
Posted on 3/22/14 at 12:46 pm to LSUtigerME
Posted on 3/22/14 at 12:46 pm to LSUtigerME
quote:
. If you are planning to move, or your job may require you to relocate, renting makes a lot of sense.
I could see myself moving again at then end of the 5 years. The type of job is pretty much a guarantee that I won't have to relocate over the next 5 years unless I get fired.
quote:
If the economics are similar (rent/mo vs mortgage/mo)
Yeah, I'm going to be looking more into this over the next week to get a better idea of my options. I just found out recently that I will heading to Richmond so haven't had time to completely look into the entire area.
2
Posted on 3/22/14 at 2:09 pm to Puffoluffagus
5 years is not long enough to justify buying for me. If you plan on improving the home much at all, you will find you'll come out ahead renting.
Not considering all the costs associated with selling; realtor fees, housing price fluctuations, etc.
Not considering all the costs associated with selling; realtor fees, housing price fluctuations, etc.
Posted on 3/24/14 at 6:36 am to Puffoluffagus
Since rates are so low, and you are only in for five years, why not purchase on a interest only loan? You benefit from a much lower payment that offsets the costs to purchase. You benefit from any actual appreciation in value. You come back to the MB and get advice on investing the difference in payments that will grow much more rapidly than real estate.
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