Hi everyone, I think buying in this case is not a bad idea.. what do you think? Am I missing something?
Rent 2/1 apartment, carport, 850 sq ft
$1400/mo
Buy 2/2 condo, garage, 1200 sq ft
Out of pocket cost: $1500/mo
PITI: $2586/mo
Tax deduction: $445/mo
Equity: >$642/mo
Purchase price: $525k