In today's market many buyers ask this question. There are certainly pros and cons to both, but if a 6 year commitment is involved the numbers may surprise you. You can see for yourself with this advanced buy/rent calculator provided in the following NY Times article.
"The calculator keeps a running tally of the most common expenses of owning and renting. It also takes into account something known as lost opportunity costs — for example, the return you could have earned by investing your money instead of spending it on a down payment. The calculator assumes that the profit you would have made in your investments would be taxed as long-term capital gains and adjusts the bottom line accordingly. The calculator tabulates lost opportunity costs for all parts of the buying and renting scenarios."
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