Rent vs buy chart

pauldun170 · 01-26-2011, 10:32 AM

http://trulia.movity.com/rentvsbuy/

Homeslice · 01-26-2011, 12:45 PM

Miami is surprising. Are they only considering the city limits? Big difference between that and the surrounding area.

Captain Morgan · 01-26-2011, 01:49 PM

Purchasing is definitely better for me, especially considering my home is below the "median list price" for a 2 bedroom. My home just happens to be a 2 bedroom, so it's rather easy to compare. If I were to rent a 2 bedroom apt. with garage, the monthly cost would be approx 575 (and that's the low end). However, buying my home with a 15 year fixed mortgage, my payment (including prop taxes and insurance) is only 510. Square footage on my home is also larger than that of a 2 bedroom apartment, I have a nice sized yard and can do whatever the hell I want at my own house.

I also don't have to worry about sharing a wall with loud neighbors.

OneSickPsycho · 01-26-2011, 02:41 PM

I didn't really get too far into it, but what things like this usually ignore is the price gap that occurs with rent prices and your fixed mortgage cost over the life of the loan... HOA's, taxes, and maintenance are other important factors that generally get ignored. Either way, I'd say most people are better off buying when the market is right (aka - not a few years ago) when looking at the long term.

derf · 01-26-2011, 03:43 PM

Quote:

Originally Posted by OneSickPsycho

I didn't really get too far into it, but what things like this usually ignore is the price gap that occurs with rent prices and your fixed mortgage cost over the life of the loan... HOA's, taxes, and maintenance are other important factors that generally get ignored. Either way, I'd say most people are better off buying when the market is right (aka - not a few years ago) when looking at the long term.

Like not when I bought in 2005

OneSickPsycho · 01-26-2011, 04:05 PM

Quote:

Originally Posted by derf

Like not when I bought in 2005

Could have been worse...

You could have bought in early '08.

pauldun170 · 01-26-2011, 04:21 PM

Quote:

Originally Posted by derf

Like not when I bought in 2005

Bought the time I bought my house.

Particle Man · 01-26-2011, 04:24 PM

Buying = the ability to knock out a wall and put in row of beer taps and not lose your deposit.

derf · 01-26-2011, 04:26 PM

I paid 200k for the house, it's on the market for 140k now, and been up for sale since last march, no takers at all. It doesn't get much worse than that

pauldun170 · 01-26-2011, 05:36 PM

Quote:

Originally Posted by derf

I paid 200k for the house, it's on the market for 140k now, and been up for sale since last march, no takers at all. It doesn't get much worse than that

I paid 340K

I dont want to know what the market value of my house is.
I'll let the wife get gray hairs over that one

01-26-2011, 04:24 PM	#8
Particle Man Custom User Title Join Date: Nov 2008 Location: Central NY Moto: 2003 SV650S Posts: 14,959	Buying = the ability to knock out a wall and put in row of beer taps and not lose your deposit. __________________ I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away.

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01-26-2011, 12:45 PM	#2
Homeslice Elitist Join Date: Nov 2008 Location: SF Bay Area Moto: Gix 750 Posts: 11,351	Miami is surprising. Are they only considering the city limits? Big difference between that and the surrounding area.

01-26-2011, 01:49 PM	#3
Captain Morgan Let's do another U-turn Join Date: Feb 2008 Location: Indiana Moto: 2009 V-Strom Posts: 3,816	Purchasing is definitely better for me, especially considering my home is below the "median list price" for a 2 bedroom. My home just happens to be a 2 bedroom, so it's rather easy to compare. If I were to rent a 2 bedroom apt. with garage, the monthly cost would be approx 575 (and that's the low end). However, buying my home with a 15 year fixed mortgage, my payment (including prop taxes and insurance) is only 510. Square footage on my home is also larger than that of a 2 bedroom apartment, I have a nice sized yard and can do whatever the hell I want at my own house. I also don't have to worry about sharing a wall with loud neighbors.

01-26-2011, 02:41 PM	#4
OneSickPsycho Ride Like an Asshole Join Date: Feb 2008 Moto: nothing... Posts: 11,254	I didn't really get too far into it, but what things like this usually ignore is the price gap that occurs with rent prices and your fixed mortgage cost over the life of the loan... HOA's, taxes, and maintenance are other important factors that generally get ignored. Either way, I'd say most people are better off buying when the market is right (aka - not a few years ago) when looking at the long term.

01-26-2011, 04:26 PM	#9
derf token jewboy Join Date: Nov 2008 Moto: CBR 900, KLR ugly ass duckling, Gas Man Posts: 10,799	I paid 200k for the house, it's on the market for 140k now, and been up for sale since last march, no takers at all. It doesn't get much worse than that