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Since I bought in 2010, probably tax has gone up over20%, approaching 30%. Plus there is a new sewer tax right after I bought. I doubt rent go up 30% in 7 years.
Who know how fast property tax will raise when the next governor come in.
Actually, knowing what I know today about NJ tax situation, I would not even live here.
If you going to invest, stock probably a better option. At least the commission is minimal compare to selling your home
That's been discussed many times with lots of back and forth. A good argument can be made for both sides of the "investing in real estate vs the stock market" debate.
renting is paying someone else to live! That's money urinated away!
It depends. If you're working a contract which may not be renewed, you're not going to buy. You may live in an area for one or two, or three or four years, but you are always waiting to get the boot.
Not true. My 3BR mortgage with taxes and interest is less than $2300, 70 minute commute and good schools. We bought less than three years ago. We're missing "amenities" like a second bath and a kids playroom and whatever, but the price was reasonable and the location was fantastic.
We looked into renting a 3BR and found you'd be paying as much for a mortgage, so the decision wasn't that difficult.
Great point.
My 3 beds home in Lyndhurst, 20 min from NYC has a mortgage lower than $2.000.
Aside from all the benefits of owning a home and not paying someone else mortgage.
No brainer. Wealth building.
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Not an accurate article
