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Rent or buy?
Comparing a rent payment to a mortgage payment is not the comparison. This one includes what you build up.
Over that period—
Total spent renting—
Total spent owning—
Equity you would hold—
Net cost of owning—
The number that moves this most is how long you stay. Buying almost always loses over two or three years, because the cost of buying and selling swamps everything else, and almost always wins over ten. This estimate excludes selling costs, tax treatment and what you might have earned investing your down payment instead — all of which matter. It is not advice, not a quote, and not an offer of credit.
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