In the solid video below, Sal Khan explores some of the math behind the decision to “rent vs buy” a home.
As Sal mentions there are lots of variables to consider and the decision isn’t always cut and dry.
If you need help doing a “rent vs buy” analysis for your situation feel free to contact your Bond Street Mortgage Advisor and ask him/her to walk you through the math.
We’re in the mortgage business, so you might think we’d have a bias toward convincing you to buy, but really we’re more interested in helping you do the right thing now, so our longer term working relationship is as solid as possible.
If it really doesn’t make sense for you to buy right now, we’ll let you know 🙂