Explain why.
2007-12-30 10:20:07 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Buy especially now people are begging to sell.
2007-12-30 10:23:21 · answer #1 · answered by headcheese 5 · 1⤊ 0⤋
wow, some interesting arguments. I have discussed this with many of my colleagues and friends, and this boils down to looking at this like an investment. Which makes the most financial sense?
The answer is, it depends! That's right, it depends on a lot of numbers, but luckily there are many rent vs buy calculators on the web to simplify the numbers. NY Times had one earlier this year.
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html
The basic idea is this, what would interest on the mortgage, taxes, insurance, and maintenance cost for buying a place, vs renting the same kinda home. Depending on your town/city those numbers will be different, but you should be able to see which makes more sense. Good luck! In most of the major cities the prices are falling, so in general I'd say rent for now and wait for bigger bargains!
2007-12-30 10:39:12 · answer #2 · answered by Bobo 3 · 0⤊ 0⤋
Auto - lease because in three years the auto companies should be producing better gas mileage and electric automobiles.
Home - Buy if you don't have to sell a current home. Home prices have hit rock bottom. Be careful in what neighborhood you purchase though (it's tough to sell homes these days).
2007-12-30 10:24:48 · answer #3 · answered by mJc 7 · 0⤊ 0⤋
Buy. Why? Because in the end you have something to show for your money. Buying is an investment. If you're leasing you're just paying someone elses mortgage.
That's how I see it anyway.
2007-12-30 10:24:17 · answer #4 · answered by Christine 4 · 0⤊ 0⤋
right now with real estate prices falling i would say lease.
you may want to consider a lease contract with an option
to buy.
many experts don,t expect housing to recover to 2009.
2007-12-30 10:50:16 · answer #5 · answered by Jerry S 7 · 0⤊ 0⤋
Buy....
Why pay someone else to live in their house, when you can own... Besides look at the benefits of owning.
Get to Claim the interest on your taxes
Get yo claim the property taxes on your taxes...
Doesn't matter how long you live there..
BUY BUY BUY.
2007-12-30 10:26:15 · answer #6 · answered by Taz 4 · 0⤊ 0⤋
lease is like renting and buying is like live there four life.....
2007-12-30 10:23:58 · answer #7 · answered by freelance812 2 · 0⤊ 1⤋
is u r goin use it 4 life buy it
2007-12-30 10:23:00 · answer #8 · answered by smothiechick21 2 · 0⤊ 2⤋