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Buying a Home NOW is a Very Wise Move

FIU College of Business did a 30 year study which casts doubt on whether buying is really better than renting.  Although the results are not available yet, you can read a summary here.  After reading the summary, I’d like to make two points:

Their conclusion that renting makes more sense is based on the premise that the renter would be investing the difference between renting and owning.  By their own admission, renters DON’T do this nor do historical trends support that they are likely to have the discipline to do so.  Life gets in the way and the money is spent elsewhere.  Additionally, in Miami, there are places where renting costs more than buying, so there would be no savings to invest.  So each month you’d be a little poorer and you’d have no tax advantages at the end of the year either.

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Spoken by Maggie Dokic | Discussion: Comments Off on Buying a Home NOW is a Very Wise Move

These articles are not intended to give legal or tax advice, and you should consult your attorney or financial advisor for additional information.

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