Reply to Is the delta between renting & owning now so high that it really just makes sense to rent?

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Reply to "Is the delta between renting & owning now so high that it really just makes sense to rent?"

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[quote=Anonymous]I've done the calculation for a 1-bedroom condo in DC.
Total payment would be $2700 month to buy vs $2200 rent the same condo. I would also be 'out' $60k down payment, which is 20% and other fees it took to buy.
The prices have been the same since 2008, so there won't be much appreciation. Might be $350k in 20 years depending on inflation, so really losing money. The interest deduction and upkeep should cancel each other out.
The $2200 is increase for the upcoming year. I had a good deal paying just $1950.
Now, $60k and the extra $6k a year invested for 20 years is about $800k. I also would have an option not to invest some months because of hardship. I would not have an option to not pay mortgage or HOA or taxes. I have an option to move to a cheaper place if rent gets too high. 
I'm renting until my investments are big enough that a $300k out of them won't be noticeable. Should be there soon.
I already made the mistake of buying vs renting. Both places were for living though, but it just didn't work out well.
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