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B767Driver · April 12th, 2006, 10:43

[quote=British Pilot] .

Contrary to popular belief, renting is not throwing money away, if it’s enabling you to save money or keep your head well above water, what are you throwing away? If renting vs. buying, affects your monthly housing payment drastically then you need to consider its merits, and building equity really shouldn’t be one….

Very good point.

I agree almost entirely with B767Driver, however the 20% down, 15 year term is somewhat tricky for most major metropolitan areas I should think. I live in Boston proper, where the average 1 bedroom sells for $300-$350k minimum. Not many young people have $60-70k down and can afford the $2,250 plus real estate taxes and condo fees.

I think I would find a career in a more affordable section of the world.

April 12th, 2006, 10:43	#13
B767Driver Old Skool Join Date: Sep 2003 Posts: 1,841	[quote=British Pilot] . Contrary to popular belief, renting is not throwing money away, if it’s enabling you to save money or keep your head well above water, what are you throwing away? If renting vs. buying, affects your monthly housing payment drastically then you need to consider its merits, and building equity really shouldn’t be one…. Very good point. I agree almost entirely with B767Driver, however the 20% down, 15 year term is somewhat tricky for most major metropolitan areas I should think. I live in Boston proper, where the average 1 bedroom sells for $300-$350k minimum. Not many young people have $60-70k down and can afford the $2,250 plus real estate taxes and condo fees. I think I would find a career in a more affordable section of the world.