The Rent Vs. Buy Decision In 2022's Interest Rate Environment (And Lofty Market)
The Money with Katie Show
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When Does It Make Sense to Buy Your House?
If it were more financially advantageous for me to buy a 500 thousand dollar home than to invest in the stock market and rent something else, i would have bought the house already. The rule of one 50 says that you cn multiply your estimated monthly mortgage payment by 150 % to get your actual out of pocket costs of ownership. So let's see if our example checks out. What was our cost breakdown over a 13 year window, excluding closing costs and major renovations? It was a hundred 95 k on insurance taxes, maintenance, the extras, and then 372 k on principle and interest, the main course. A hundred 95 k divided by 372, you get 52% - we're not including the
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