Sandi Martin
A list of the interesting stuff we mentioned in this episode of Because Money
Source: http://www.becausemoney.ca/s3-ep-13-chris-and-john-talk-rent-vs-buy
If you haven’t seen this before, it’s a very detailed and customizable rent-vs-buy calculator. It assumes that all else being equal, you can compare apples-to-apples options for your shelter. If buying costs more, the renter will save the difference in monthly cash flow and invest it. It allows you to model a change in interest rates over time (specifying a rate for years 1-5, 5-10, and 10+), includes the effect of transaction fees, house price appreciation, taxes on the renter’s investments, and most importantly: investment returns that compound over time.
Fee only/advice only financial planner at Spring Financial Planning, ex-banker, curmudgeon.
Co-host with the really loud laugh on Because Money
