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Buying Really Does Beat Renting in Columbus Ohio, and nearly everywhere else
Buying Really Does Beat Renting in Columbus Ohio Do you have any idea how long it takes to break even on a home you own, rather than rent?  Now you do!  Zillow just released a study that identifies how long it will take a person to break even on their home purchase versus renting.  In Columbus it will only take you 2 years and four months to break even, the rest is profit.  Here are the results in 30 major cities, courtesy of Zillow   Buy vs. rent in 30 major cities  
CityStateBreakeven time in years
 
I'm sure this could be a little biased towards purchasing a home since it was Zillow that did the report.  As we see all the time in politics it can be easy to scew statistics to meet your needs.  I'm not sure if they accounted for repairs, commissions, increase in taxes, etc.  It definitely doesn't account for the fact that not everyone is well suited to be a home owner.  However, even if it is off by a few months, it is still pretty compelling to see how quickly you can turn home ownership into a great investment.  
As i keep telling ... more

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