Many odd thoughts on mortgage calculator
Both have their advantages and disadvantages, but it comes down to what makes financial sense for your budget and situation. Anticipating the length of time you plan to live in the property is an important first step when deciding whether to take on a home mortgage or become a tenant. For the average home mortgage, payments will be mostly interest for the first couple years, so you will not build much equity if you are there for a short time. There are added costs of buying a home, such as attorney and bank fees for closing, appraisals, inspections and title fees. Being a tenant might be more economically beneficial, if you expect to only be in the property for a few years.