It's been a while since I have blogged about my favorite financial guru of all times, Suze Orman. There is just something about her that really resonates with me. Love her or hate her, she offers some pretty solid advice. My boyfriend (and father and many of my friends in the financial industry) are not her biggest fans. Should I find myself watching her on TV and someone happens to walk into the room, trust me the channel is quickly change. I've blogged a few times about whether buyer or renting makes the most sense for you . Much of what I included in my original post is based off of many Suze-isms and overall common sense. As I was watching Suze last night alone in the privacy of my own living room, she can up with a pretty basic, no brain formula as to whether you should rent or buy:
Excluding Down Payment: Mortgage Payment + Property Tax + Insurance = Less or equal to what you are currently paying in rent. Obviously this is a pretty logical formula! My only caveat to this equation is whether or not you are currently paying the max monthly rent that you can afford and how much if (if any) your family might want to invest in your dream of homeownership. I am all for forging your own road, but this is Rich Kids Real Estate after all, so we must be practical!
Click here for a clip from Kathy Griffin's stand up routine as to why she feels there needs to be a lesbian (specifically our very own Suze Orman in the White House for 2012)! Start writing everyone that you know, Orman 2012!!!
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