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Do the math on whether to rent or buy

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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.

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