Rent or buy if staying 8 more years?

[Anonymous]

I also am torn between renting and buying. However, we've decided to rent for the next few years as it is cheaper and would allow us to potentially buy an even better house in the future.

One thing that would bother me is having to move. I know you've done it a lot, but it's annoying trying to reshuffle your life. My fear would be that the landlord decides to sell the property after moving in for just a few years. You could control for this by renting a corporate owned townhome or apartment though.

[Anonymous]

Anonymous wrote:I also am torn between renting and buying. However, we've decided to rent for the next few years as it is cheaper and would allow us to potentially buy an even better house in the future.

One thing that would bother me is having to move. I know you've done it a lot, but it's annoying trying to reshuffle your life. My fear would be that the landlord decides to sell the property after moving in for just a few years. You could control for this by renting a corporate owned townhome or apartment though.

I have moved 27 times in my life since birth. I counted. I am 47. Moving is not an issue for me.

[Anonymous]

Anonymous wrote:Renting is throwing your money away for 8 years. You really ought to buy.

I don't agree with that. Paying interest and pay fees to sell is also throwing money away. Lost opportunity of investment earnings on money that would be a downpayment is also throwing money away. Every calculator I have run says that 8 years is not better to buy. It is better to rent. One even said it would not make sense to buy unless I was somewhere for 20 years. I can't even imagine living in one place for 5...let alone 20.

[Anonymous]

Rent.

[Anonymous]

Anonymous wrote:Rent.

That does seem to be the smarter choice to me in this scenario.