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Originally Posted by billybob
The other thing is, I will still be saving money. Right now I am renting for 1200 and paying 700/month to CC, soon to be savings. That means even if I was paying 1700 a month total for Mortgage, pmi, etc, I could still sock away 200/month...
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No, you won't. One thing that many people forget is that owning a house is much more expensive than an apartment. You will have real estate taxes, you'll have a yard to upkeep, you space will be bigger meaning you'll need to buy more things to fill it. Since it is bigger, utilities will be higher. That extra $200 you think you'll be able to save will disappear quickly.
People often think that renting is "throwing money away." I'm of the opposite opinion...if you save the extra money that a house costs, renting can be a great way to save much more than owning a house.