How "Rent vs. Buy" Shifted in 2023
The Money with Katie Show
00:00
The Importance of Renting a Home
For a sale price of approximately $1,090,000 or just shy of $1.1 million, if you assume 3% fees from both the seller's agent and the buyer's agent, our hypothetical home would need to appreciate by around 8% per year every year in order for us to break even assuming no maintenance, no renovation costs. The average annual appreciation in the area since 2000 was 4.15%. So I didn't feel super comfortable banking on that given the expected timeline of our ownership that seemed most reasonable. We decided to keep renting.
Transcript
Play full episode
