Housing: Own versus Rent

[scrubradio]

Could you share the unique nature of your home and location? Your experience seems to be quite unique.

I live in Lafayette, Indiana. Home of Purdue. Cost of renting is outrageous
the closer you are to the school. Many units rent per person and not a
solid $ amount (IE $400/person or $1,200 for 3 etc).

I was actually able to secure my home from a foreclosure below market
value. I watched the market for months in preperation and made a
move on the deal the same day it listed. Repairs were minimal. I
plan to live in the home long enough to secure my early retirement and
purchase my retirement home outright.

 

[youbet]

I live in Lafayette, Indiana. Home of Purdue.

Go Boilers!

 

[HFWR]

I partied for a weekend in Lafayette years ago. To put that in perspective, some bandmembers/friends we were visiting were working on a new song. "Breathe", by Pink Floyd...

 

[Independent]

But real estate taxes as well as maintenance and repair costs increase on an annual basis too. And if you live in a condo or a townhouse your monthly fees will most likely go up annually.

I agree with you. That's why I put "partially" in the post. All you can lock in is the initial cost and interest rate (if you're borrowing). I still think that's significant enough to include it in the analysis when the rent/buy decision looks like a close call.