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<p>[QUOTE=&quot;Clawcoins, post: 2558068, member: 77814&quot;]Don&#039;t be fooled by Real Estate people in &quot;location, location, location&quot; and &quot;buy up&quot; into a new house.&nbsp; Buy when you *need* to and buy what you *need*.</p><p><br /></p><p>I bought my current house a couple years ago.</p><p>I *had* too, as the rent was going to go up from $1k to $1,200 which would of been close to unaffordable as my income barely goes up.</p><p><br /></p><p>And as you know, as a renter you are paying the local property taxes as part of your monthly payment, which normally as a rental is higher than as an owner property.&nbsp; So you pay an additional city &quot;fee&quot; as a renter, plus the owner&#039;s revenue.&nbsp; Around here for a ranch house that is about $100 per month MORE than owning for property taxes.</p><p><br /></p><p>The monthly note is under $700.&nbsp; Essentially I saved $500 a month by buying the house versus renting.&nbsp; I used a credit union and didn&#039;t get ripped off from fees, etc.&nbsp;&nbsp; I now have 50% equity in it due to continued market appreciation and an aggressive payment schedule (by me not the CU).</p><p><br /></p><p>It all comes down to the mortgage company and all their fees, etc. and *your*financial strategy.</p><p><br /></p><p>My fees were extremely low compared to a bank or standalone mortgage company.&nbsp; I&#039;m easily ahead in buying vs renting. I plan on renting this place out in a few years when I purchase another house in the locale.</p><p><br /></p><p>But the tipping point is all related to locale house valuations, long term appreciation futures, mortgage fees and finance rate, down payment/points and anything else tacked on.&nbsp; If you can find a lender where all that is minimized then you&#039;re all set.</p><p><br /></p><p>Allows me more money for PMs in pretty, shiny new US Mint bullion releases. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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