Quote:
Originally posted by FuzzieAlum
Whoa!
I don't think parents should be buying their kids places to live ... I mean, once you're on your own, you can buy your own house or condo, but until then, why *own* a place? Whatever happened to renting? However, that's my two cents, I'm pretty sure you don't care what I think on that, and that's not what you asked!
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It actually makes much more sense to buy a place than to rent, if you're going to be there for more than 2 years. (There are tax issues if you buy and sell before you've owned the property 2 years). Rent is money you never get back. When you pay a mortgage, you're building equity in the property. Real estate is an investment that usually increases in value. Especially if its in an in-demand area.
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