01-23-2007, 01:03 PM
Evan Wrote:$550 rent compared to $550k house over 10 years is a savings of $170k if renting. And thats with what looks to be a relatively agressive appreciation rate (current market considering)
Note I said conservative and $550k is anything but. See above. There's a distinct difference between what you can rent and buy for the same cash outlay (obviously). If you absolutely must have xyz in your house and that's $550k then yes, renting is the obvious choice. I'm just talking about buying you first home for the sake of getting into the market. First homes usually aren't everything you want.
To RJ's point... the problem is you're thinking about buying an equivalent to renting. That's never going to work unless you can lay an assload of cash down.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth