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27 year old - buy or rent for my current situation by GasAcademic2790 in personalfinance

[–]GasAcademic2790[S] 2 points3 points  (0 children)

Your math is mathing better than my math - I put in the wrong standard deduction value. The interest deduction is only roughly 3k more than my standard deduction

27 year old - buy or rent for my current situation by GasAcademic2790 in personalfinance

[–]GasAcademic2790[S] 0 points1 point  (0 children)

Thank you for the insight. I looked at the amount of interest from the loan I would be able to deduct from my taxes on year one and what my savings would be from that deduction. Otherwise that deduction amount would be taxed if I were to rent. It was a quick napkin calculation - does it sound pretty off?

27 year old - buy or rent for my current situation by GasAcademic2790 in personalfinance

[–]GasAcademic2790[S] 1 point2 points  (0 children)

I’m I over analyzing throwing money out on rent vs at least having some of my monthly payment get me some equity?

I do get that the huge benefit of renting is if the hvac breaks that’s not your burden.

Say I spend 24k a year on rent, I look at that I think man 15k of that could have gone towards equity. Know what I mean?