Barberakb
USAF / Go Cowboys!
One thing that cant be overlooked however is the maintenance on the home is not covered by the person renting. Those costs can add up quite a bit for homeowners. Then add in the ridiculous closing costs and taxes, that renters do not have to deal with either.
Very true. I always roll my closing costs into my loan so I factor that in, and the taxes are rolled into your monthly payment. Homeowners also usually get a tax break since they itemize deductions.
I will admit, I have been pretty luck so far in my houses. Nothing major has gone wrong except for needing a new roof twice which was covered by my insurance.
I actually did not want to buy a house were I am currently. I wanted to rent. But when I broke it all down, renting would cost me $300-400 more a month than buying my house.
The market here is stupid.