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Yes, buying real estate is a big commitment but many times not buying real estate is a bigger mistake. Let's compare the costs of renting a property in today's market versus buying the same property today. First to establish an example. My figures will work with any example, but let's use a home that would rent for $2,000 a month or would sell for $400,000 at 3% down.What would your cost per year be to buy when compared to the $24,000 you would pay in rent? Let's use very oversimplified figures:Interest: 5% on $388,000 = $19,400Property Taxes = $ 4,000Insurance =
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