If you are debating on whether it is wiser for you to buy a home or to rent, there is a useful online calculator that can help you determine this as it does the number crunching for you. Once you have launched the Is It Better To Buy Or Rent calculator, simply input the figures specific to your situation. This calculator is also useful for folks who already own a home and would like to know how long they should be prepared to own it before it would make financial sense to buy another home, etc. In our case, the calculator suggests that buying is better than renting after 4 years.
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