Five Questions You Need to Ask Yourself Before Buying a Home
Article by Neil Irwin, The New York Times, May 22, 2014
“One of the pleasures of being an economics writer is that friends and acquaintances routinely ask me: “Should I buy a house?”
And my answer is always the same: “I have no idea.”
It is not for lack of familiarity with price-to-rent ratios or the benefits of the mortgage interest deduction. Anyone who wants to do a financial analysis on whether to rent or buy a home should go to our new calculator, an excellent tool for doing just that.
But the result, no matter how carefully and clearheadedly you approach the exercise, is more a starting point than a conclusion about your optimal living situation. It will give you a good look at the financial dimensions of your decision. But housing is about quite a bit more.”
To read the full article and to access the calculator link, please click here.
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