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Real Estate
Reply to "Rent vs. Buy Calculators "
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[quote=Anonymous]Now is a terrible time to buy (high prices and high rates), granted we decided to go for it anyway but it was more due to the intangibles than purely a smart financial decision. That being said, those calculators do not take into account the appreciation the property you own will have, plus given today's rates you would also want to play various scenarios (on the owning side) with mortgage rates, since they are bound to fall within the next 24 months. Technically with mortgage your payments are relatively stable (they would increase slightly due to appreciation/higher assessment and property tax on that but negligeable tbh) but with today's rates your mortgage is more than likely will go down. With renting, on the other hand, there is a higher probability that it will increase. All that being said yeah, as of today, cetris paribus, renting makes more sense, but once you take into account other factors, the decision is not so cut and dry. [/quote]
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