A wise investment won’t break your bank account. Compare the cost of renting versus the cost of buying a house with 20% down and a 30-year fixed-rate mortgage. If the total monthly cost of the mortgage, property taxes and insurance is less than the cost of renting, you’ve found a good deal and probably a worthwhile investment. If not, stick to renting – maintenance costs and homeowner’s insurance are not your problem – and you’re only stuck there for a year.
|A LOZO expert posted this tip.|