I mentioned this tool in a previous newsletter but I had a lot of requests for it so here it is again.
Trulia built a great tool to help you determine whether it makes more financial sense for you to buy a home or rent. Check it out at http://www.trulia.com/rent_vs_buy. All you have to do is answer a few simple questions and the system tells you whether it makes more financial sense over the next seven years to rent a unit or purchase. As you see from the graphic you move the slide bar on the five questions back and forth to represent your situation and the model will tell you how much you will save by either renting or buying. Trulia put a huge amount of thought and research into this tool so I think it’s worth a couple minutes of your time to see what you can learn – you’ll really like it.