[Alberta's Child]

The difference with a rental is that the landlord doesn't have to charge rent that covers a huge mortgage based on an inflated purchase price.

I've gone through this exercise on FreeRepublic before. Check out the real estate listings in your town and find a home that you might consider buying. Sit down and figure out your monthly cost of owning the home. Then contact a realtor and see if there are any listings for rentals in the same neighborhood. Sit down and figure out the monthly cost of renting the same home. You'd be shocked at the difference between the two numbers.

[kaila]

I live in a desirable neighborhood. To rent would cost me at least $5000 a month.I only pay property tax now. I bought a modest home in a wealthy neighborhood, fixed it up, and my value has doubled.

[free_life]

Could you explain in a little more detail what those cost differences are? Thanks.