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


 
Mr Twisty's Avatar
 
Drives: the 2nd amendment home
Join Date: May 2008
Location: OK
Posts: 14,383
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
Great Racing Quotes

"Never run out of real estate, traction and ideas at the same time."
"I was doing fine until about mid-corner when I ran out of talent."
"Don't brake until you see God, just don't meet him"
Mr Twisty is offline   Reply With Quote