Comments on: Rent or Own? If You Have The Down Payment, Buy…Here’s Why http://www.CrystalClearMarket.com/2008/05/06/rent-or-own-if-you-have-the-down-payment-buyheres-why/ Real Estate Insights on selling, buying, investing, foreclosures much more. Thu, 26 Jan 2012 21:13:48 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Mike http://www.CrystalClearMarket.com/2008/05/06/rent-or-own-if-you-have-the-down-payment-buyheres-why/comment-page-1/#comment-101 Mike Fri, 06 Jun 2008 20:08:15 +0000 http://www.CrystalClearMarket.com/?p=168#comment-101 What country does our "homeowner" live in? In the USA (assuming he's single), he's on the low end of the 25% bracket...this means most of his income will be taxed in the 10 to 15% range. If he had a bunch of other deductions, and was able to get the full benefit of his mortgage (as your scenario implies), he's still only "saving" less than $150 or $200 on taxes. Speaking of taxes, the property taxes wherever he lives (0.36%) have got to be among the lowest in the country. If you re-run your scenario with realistic numbers, renting comes out to be much cheaper. What country does our “homeowner” live in? In the USA (assuming he’s single), he’s on the low end of the 25% bracket…this means most of his income will be taxed in the 10 to 15% range.

If he had a bunch of other deductions, and was able to get the full benefit of his mortgage (as your scenario implies), he’s still only “saving” less than $150 or $200 on taxes. Speaking of taxes, the property taxes wherever he lives (0.36%) have got to be among the lowest in the country.

If you re-run your scenario with realistic numbers, renting comes out to be much cheaper.

]]> By: brian http://www.CrystalClearMarket.com/2008/05/06/rent-or-own-if-you-have-the-down-payment-buyheres-why/comment-page-1/#comment-96 brian Wed, 21 May 2008 16:32:32 +0000 http://www.CrystalClearMarket.com/?p=168#comment-96 I'm curious, what was the home worth that sells for $500k to $600k worth in 2005? I’m curious, what was the home worth that sells for $500k to $600k worth in 2005?

]]> By: San Mateo Home Sellers in Trouble http://www.CrystalClearMarket.com/2008/05/06/rent-or-own-if-you-have-the-down-payment-buyheres-why/comment-page-1/#comment-95 San Mateo Home Sellers in Trouble Wed, 21 May 2008 01:47:52 +0000 http://www.CrystalClearMarket.com/?p=168#comment-95 In the example you gave where the rent is $1400 and the condo is $250000 I would definitely buy, but in the Bay Area the situation is more like the rent is $1600 and the condo is $500000 to $600000. I do have a downpayment but I still can't justify paying more than $3000 a month to live in the same conditions as renting for $1600. In the example you gave where the rent is $1400 and the condo is $250000 I would definitely buy, but in the Bay Area the situation is more like the rent is $1600 and the condo is $500000 to $600000. I do have a downpayment but I still can’t justify paying more than $3000 a month to live in the same conditions as renting for $1600.

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