A recent study by Zillow shows that, in most places, buying a home is a better financial decision than renting — if you plan on living in the home for at least three years.
The analysis was based on 200 metros and 7,500 U.S. cities. And in more than 75% of those areas, the three-year rule held true.
All possible costs were also considered in calculations, from the down payment to tax deductions and opportunity costs. And numbers were adjusted for inflation and expected home value and rental price appreciation.
In some areas, home-buyers break after under two years of owning a home. In others, though, things aren’t so bright — and it would take around a decade for home-buyers to break even. For the most part, though, buying still seems to be the way to go.
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