Renting vs. Buying
That is a good question. There are many “Rent vs. Buying Calculators” that can be found online but I can also do the analysis for you which I suggest because you never know how accurate the information is online. The basic principles behind determining this would be to estimate the time you will stay in the home, the amount of appreciation in the home, annual rent increases, your tax bracket, amount of taxes and insurance, and your interest rate. The software I use will then give you a break down of your tax adjusted mortgage payment along with home much equity you accumulate due to appreciation and monthly principle reduction over that time period, usually 5 years. You can call or email me and I am more than happy to send you a free analysis.