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Renting because it seems cheaper

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When you go out to look at homes on the market today, the sticker prices are typically in the hundreds of thousands of dollars. Your monthly rent seems dirt-cheap by comparison.

You must compare the monthly cost of homeownership with the monthly cost of renting. And you must factor in the tax savings you’ll realize from homeownership tax deductions. (We show you how to make these calculations in Chapter 3.) But you must also think about the future. Just as your educational training affects your career prospects and income-earning ability for years to come, your rent-versus-buy decision affects your housing costs — not just this year, but also for years and decades to come.

Home Buying Kit For Dummies

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