07 November 2007

Buying a House vs. Renting: The Epic Battle Continues

According to the New York Times, it will never make financial sense for
me to move out of my apartment and into a house.
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html
I just can't imagine that. I am seriously bummed out by this. At some
point, I want to own a home. If it never makes sense for me to own one
financially, I'm really going to have to reconsider things. I probably
need to put into consideration the fact that I am the only one living in
my apartment and that if I got married or had kids, the place wouldn't
be big enough, and then maybe I should look into buying a home or
renting a much larger place. Honestly, I'm not looking forward to
renting anywhere, ever. I'm big on having something of value to sell if
I ever need to liquidate.

1 comment:

anonymous said...

I don't think that study takes into account the tax shield you create by having a mortgage. plus, like you said, apartments rarely are big enough to accomodate a family. and it's never really economical to rent a house. the owner is making enough from your rent to pay the mortgage and taxes on the property, and is usually turning a profit. and he's also gaining the equity. generally inefficient all around for the renter.