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Renting vs. Buying

Results

On an annual basis, buying will cost $5050 less than renting. This is based on financial analysis, which differs from actual cash outlays. Overall, the conclusion is:
strongly advise buying

 
Note: This evaluation of the financial advantage or disadvantage of buying a home is based on the assumptions typed in below. Other assumptions also affect the results. Since nobody knows for certain how much houses will appreciate in your area in the future, it is impossible to be absolutely certain whether renting or buying will be advantageous for you.

Mortgage Rate                       6.0%              
Property Taxes                       2.0%

Tax Bracket                             25%               
Expected Appreciation            5.0%

Monthly Rental                     $900   
Home Price                            $150,000

Condo Fees                            $ 0                  
Years Occupy                           3
 

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