livmoredyles Posted April 13, 2008 Share Posted April 13, 2008 Hey you all, I've been lamenting over having to pay rent for the next few years so below is my rant on buying a house vs. paying rent...feel free to contribute: So if you're getting a PhD you'll be in the same place for 4-6 years most likely paying rent. But rent sucks! It's just money thrown out the window. If I paid only $500/month over a 5 year period that's $30,000 down the drain! BUT if you choose to buy a house (especially with the market being close to a bottom now) you could be paying slightly more for a mortgage, gaining a tax deduction because you have a mortgage, and gaining equity from your home. So instead of leaving with $30k down the drain, you could leave with an extra $30k profit or more! PROBLEM: My stipend, as I'm sure like many others, sucks! I feel as though I'm being pigeonholed in that I make too little to invest in a home, so I'm forced to throw my money away renting. Is anyone else going through this dilemma, any advice? Link to comment Share on other sites More sharing options...
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