I'm also a new homeowner, and my mortgage + property taxes + insurance + utilities are about 2/3rds of what I was paying for rent last year. Will ongoing maintenance on my home eat up the $400 a month I'm saving? I guess that's possible... but even if it did, I'm still breaking even, and I own my own home.
That's particular to the area I live in, though, where the rental market is extremely tight in comparison to the buying market. In my particular case, the article's advice about "what else you could do with the money" is moot. The rental market here exists for people who need transient housing, or who's financial situations makes a loan difficult to get.
That's particular to the area I live in, though, where the rental market is extremely tight in comparison to the buying market. In my particular case, the article's advice about "what else you could do with the money" is moot. The rental market here exists for people who need transient housing, or who's financial situations makes a loan difficult to get.