If you rented a home for $1000 per month for 5 years, you would have spent $60,000 and have nothing to show for it. That’s an incredibly poor return on your investment by any standard.
One of my favorite links to compare renting vs. buying is this calculator from the New York Times. Click here for the calculator.
We just sold a great condo in Renton that makes for a perfect example in a buy vs. rent case study. The condominium community sits next to an apartment building of comparable quality. Even with as little as 4% down, the calculator recommends buying unless you can find a rental for less than $1,158 per month. The comparable apartments next door are renting for over $1500 per month.
Stop throwing your money away on rent, you can buy today, I can help.