Rent Vs. Buy Spreadsheets
Hello All, with a seemingly infinite number of variables it is hard to determine whether it is time to pull the trigger on a first home (or Duplex) or whether it is just more economical (and sane) to continue to rent. My options are buy a single family home, buy a duplex and rent half of it out, buy a condo or continue to rent.
If anyone has a good, comprehensive excel spreadsheet which weighs the cost / benefit of buying vs. renting I would greatly appreciate taking a look at it.
I have started a basic one but am not sure if I am correctly looking at all the variables (i.e. if I bought today and sold in N years the real estate commission and other closing costs need to be factored in; taxes need to be factored in, opportunity cost of investing the downpayment etc. all need to be included. )
Any help would be greatly appreciated. Also any insight on the expenses that the average person may over look and / or the assumptions that one should make when owning a single or multi (2 or 3 unit) home.
Much appreciated!
Cheers!
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