However, the fact is that taxes are low in our market, as is general upkeep and maintenance. All it takes is about two years to live in a house to break even. Generally, if you know that you’re going to live someplace for more than two years, it’s a financially wise decision to buy. You have to factor in the tax deductions, the equity you’re building, and putting your rent money toward an actual asset.
Another thing to keep in mind is that your landlord can raise your rent at any time for any reason. If you’re on a fixed income, that’s not great. You might not get a chance to go back and buy a home with the low interest rates we’re seeing now.
If you have any specific questions, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.