August 13, 2014

The Math Challenge: Whether to Rent or Buy?

Math Challenge: Buy or Rent

Did you know that The New York Times' website has a calculator to determine which is the better option if you plan to live in one place for a certain number of years and both the rent and mortgage payment are the same?

It calculates the "opportunity cost" – what you could have earned by investing your money instead of making a down payment. It includes such other factors as rent rate growth, taxes, maintenance fees and net proceeds.

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