Is it better to rent an apartment or buy a home if you are going to relocate after one year?

Answers:1   |   LastUpdateAt:2012-09-28 19:29:02  

Question
Akhona
Asked at 2012-08-11 07:55:39
home cost is $ 280.00, monthly utility costs , $ 220. , Maint - $ 100. , Property taxes , $ 380. , Home insurance - $ 50. 30 years costs -8% mortgage interest rate , 20% down payment and closing equals $ 1,000. plus 3 points. Rent would be $ 1400./month plus $ 220. utilities and renters insurance $ 25 per month. house prices expected to rise 3% , supplies , taxes, increase by 3% annually.
Answer1Hunter DuttonAnswered at 2012-09-28 19:29:02
Definitely rent . You need to take into account that it takes time and money to buy a house , then re-sell it w / in a year period of time and problems like what if it is sold , and the list goes on . Look at the # ' s with yourself Bankrate Rent vs Buy calculator. http://www.bankrate.com/brm/mortgage-adv
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