In 2012, my own rent situation inspired me to investigate and analyze about the money I pay for rent and the mortgage I would pay in case of buying a house. Since I start working in real estate in 2003, I noticed that it is much better to buy than to rent a property because the rent that I pay goes to landlord while the mortgage I pay can some day came back to my pocket.
For example, if I buy a house now that the market price and interest rates are low, my monthly payment will be equal or less than the average price rent in NYC.
Buying one family house for the price of $ 350,000, your monthly payment, could be on $2200. Next year the market goes up and now your house value increased and the price is $40000 the equity is 50,000. That means that in one year you got 50,000 back to your pocket from the mortgage you had pay.
This is dedicated to all people who are paying height rent in NYC.
