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- Jun 28, 2012
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Paying $500 rent for 36 months = $18,000
$60,000 small house down payment = $12,000
Monthly mortgage = ($250)
Roommate rent payment = $500
Monthly net = +$250
Doesn't it make more sense to purchase a condo/small house vs. renting during PT school? If you have the downpayment funds of course. I understand that there is a lot that goes into purchasing a home, but from a financial point of view, you're making $250 per month vs. paying $500 in rent.
Thoughts?
$60,000 small house down payment = $12,000
Monthly mortgage = ($250)
Roommate rent payment = $500
Monthly net = +$250
Doesn't it make more sense to purchase a condo/small house vs. renting during PT school? If you have the downpayment funds of course. I understand that there is a lot that goes into purchasing a home, but from a financial point of view, you're making $250 per month vs. paying $500 in rent.
Thoughts?