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Rent vs. Buy- rule of 15 from Today Show
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donegal419
St. Gerard, pray for us.
Member since 7/07 7650 total posts
Name:
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Re: Rent vs. Buy- rule of 15 from Today Show
Posted by Beth1210
someone correct me if I am wrong- but I didn't think this rule of 15 was for what you CAN afford- I thought the rule was for what the house should be priced at for buying vs renting to be worth it
no, you're right... i didnt' realize that at first and calculated it based on my rent which is nowhere NEAR a comparable property. when i did what would be a comparable rent towards what we paid for the house (which we can afford), this formula was fairly acurate. it was a good time for us and the sellers went down 10% below asking which helped too.
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Posted 7/10/08 5:07 PM  |
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