sagarmehra;461205There is a cost of home ownership that is above and beyond the purchase price. We refer to these as ?real estate closing costs,? and you have them when you buy, and you have them when you sell. The normal break-even point usually occurs after owning the home for 3 to 5 years, so if you are positive you will want to sell within the next three years, most likely home ownership is not the cheapest solution.http://www.findghar.com
Of course, now that we have the Homebuyer Tax Credit, that should be taken into consideration as well, but I suspect anything under 3 years of ownership will cost more than an equivalent rental opportunity (if there is an equivalent rental opportunity).
Agree, but what we have learnt is that in most of the cases, the TCO - Total cost of ownership is often increases to 10-15% of actual cost. In an article on Additional Costs of Buying A New Home we can see that Taxes & Maintenance cost adds up the cost.