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Old 10-02-2009, 08:46 AM   #21
Mr Twisty

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Drives: the 2nd amendment home
Join Date: May 2008
Location: OK
Posts: 13,756
If you buy a house now, let's say it costs you $800. mo.

If you rent an apt. let's assume it costs the same. (normally the same priced apt. will be much smaller but this is a simple example)

Fast forward 20 years... Your house pmt... $800
Your rent, same apt... $1600 (maybe more maybe less)

Equity in home after 20 years on a 30 year note... $30,000 conservative guess
Equity in apt. after 20 years... 0

Many advantages to owning. Few advantages to renting.
"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety."
-- Benjamin Franklin
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