With procedure for making the rent-or-buy decision, you should rent if the total cost of renting is less than the total cost of buying or if the total cost of

With procedure for making the rent-or-buy decision, you should rent if the total cost of renting is less than the total cost of buying or if the total cost of renting more than the total cost buying. Details: Monthly payment of $900/m Location mid town Houston – Cost=$200,000; Down Payment=$40,000; Mortgage=$160,000, 30 yr fixed at 3.5%. Additional costs of $4500. Property Tax rate of 2%; homeowners insurance of .5%; maintenance .8%; association fees $200/m; after-tax rate of return on your investments 3%. Home appreciation ( gain in value ) 2% In this scenario do you rent or buy?

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