Is It Better to Buy or Rent?
With an uncertain market, that question isn’t as cut-and-dried as it used to be. Last week the New York Times published a fantastic online calculator to determine whether you should rent or buy, based on a number of variables like monthly rents, home prices, taxes, appreciation rates, and interest. Given these values, it computes the point at which the costs of buying a home make a better investment than renting. For the record, home price appreciation in Chicago expects to be around 4% for the near future.
