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Renting costs just about as much as owning. Using my neighborhood as an example a co-worker rents a house of similar size one street over from the one I own. We
by systematical 13y ago
Renting costs just about as much as owning. Using my neighborhood as an example a co-worker rents a house of similar size one street over from the one I own. We both pay roughly $1,200 per month.
The big difference is my interest is tax-deductible and I will always get at least something back from my investment. From a finance/economics perspective: Owning home > renting. Obviously.
- jrs235 13y agoUnless Congress doesn't keep the mortgage interest deduction and you renting friend doesn't have to pay if the furnace, water heater, or AC breaks. He also doesn't have to think about and set up a sinking fund/account for replacing the roof.