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Rent is an all-inclusive expense usually, while a mortgage is not. Rent covers maintenance, taxes, cost of future renovations, and you usually don't have high
by Game_Ender 13y ago
Rent is an all-inclusive expense usually, while a mortgage is not. Rent covers maintenance, taxes, cost of future renovations, and you usually don't have high transactions in getting or leaving an apartment. So you can't directly compare mortgages and rent amounts.
- chad_oliver 13y agoFair enough; that's a good point.
- pmorici 13y agoA good rent vs. own comparison like the one on the NYT website will take expected maintenance costs into account http://www.nytimes.com/interactive/business/buy-rent-calculator.html?_r=0 http://www.nytimes.com/interactive/business/buy-rent-calcula...