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KurtNYC

(14,549 posts)

5. Renting is usually a great deal compared to buying

Reply to raccoon (Original post)

Tue Sep 11, 2012, 08:31 AM

Sep 2012

Buying may look cheaper but only if you have never "owned" a home. Property taxes are terrible and are going higher as local governments scramble for revenue. A house has virtually limitless ways to cost you money and not much of what you pay on the mortgage in the first 5 years actually counts toward equity.

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The 5-year rule of thumb about buying a house--what's your opinion/experience? [View all] raccoon Sep 2012 OP

Never heard of this, so no idea. jp11 Sep 2012 #1

I've never heard of a 5-year rule for buying a house. HereSince1628 Sep 2012 #2

Google is your friend. My opinion/experience is you should be prepared to stay in a home at Lochloosa Sep 2012 #3

Don't Know Either goodword Sep 2012 #4

Renting is usually a great deal compared to buying KurtNYC Sep 2012 #5

No longer true in Florida. HooptieWagon Sep 2012 #9

forget buying a house 2pooped2pop Sep 2012 #6

A good rule if a nice, clean rental that suits your needs is available. Nye Bevan Sep 2012 #7

IMO Mr Dixon Sep 2012 #8