There is a good article at Planet Money http://www.npr.org/blogs/money/2011/02/10/133624349/should-you-rent-or-buy which outlines some financial ratios to help you determine whether it’s more financially beneficial to rent or buy in the area where you live. Keep in mind that this doesn’t take into consideration the emotional reasons to rent versus buy. Nor does it talk about how easy it will be to sell your place when you do want to move. The ratios say if you’re moving to Kansas City, it’s a better financial decision to buy instead of rent. But if you were planning to move again in a year or two, consider that it may not be that easy to sell. They list San Diego, my chosen destination, as a better place to rent than buy. Another confirmation for me to rent.
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