Quote:
Originally Posted by turboawd
But it depends on the figures.
If your rent is 1000, and your house is 2500 with taxes maintenance and whatnot, then renting is smarter.
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Not entirely. Your rent maybe 1000, but you are still going to pay more come tax time because you no longer have that break and at the end of the day you have nothing to show for it. What if the place you rent is smaller than where you live now and you have to get a storage unit...that is more outgoing money.
IDK, I still think you would still come out better owning because you gain equity that you can pull from where as renting is just outgoing money with no say about what happens to where you live. I highly doubt (again jaded by California) you are going to find a place to rent that you are going to want to live in for $1000 a month.