Should I Rent or Buy a House?

by Jon Henshaw

A question that many renters and home owners ask is, “should I rent or buy a home?” Luckily, the New York Times has found the answer through their new Rent or Buy Online Calculator. Their calculator let’s you enter the following information and then graphs the results.

  • Monthly Rent
  • Home Price
  • Down Payment
  • Mortgage Rate
  • Annual Property Taxes

We’ve been renting a house for almost two years now, but we’re currently in the market to buy. After running the numbers on our current rental house, the calculator determined that we were better off renting, but only for three years. So, it looks like we’re looking for a new home at the right time.

Link

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This entry was posted on Thursday, April 12th, 2007 at 10:57 pm and is filed under Finance, Home and Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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