Compare the monthly cost of renting with the monthly cost of owning — loan instalment, dues and maintenance — and add the opportunity cost of your down payment. If ownership costs less than 1.3× the rent, buying usually wins over five years.
Compare the monthly cost of renting with the monthly cost of owning — loan instalment, dues and maintenance — and add the opportunity cost of your down payment. If ownership costs less than 1.3× the rent, buying usually wins over five years.
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