Not work related but I would like to see the opinion from hundreds of professionals here. Keep renting or buy a house? My wife wants to own but this is such a important decision. We might stay in the city where we live in AZ.

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Spend some time, crunch the numbers, and weigh the life benefits of buying a home versus renting. A home is the largest purchase most people make and can significantly set back your finances if you do it wrong.

My general impression is that most people reach a certain age and then feel like they should own a home.

I’m personally wary of acquiring so much debt ever again after taking out too much in student loans and then struggling to pay them off.

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Where at in AZ?

AZ still has very affordable property in a lot of areas. Prices are down a bit from the highs of mid-2022, but starting to bounce back.

If you’re looking for a starter home without a pool, I’d say buy. If you’re looking at a higher end home and/or one with a pool, I think renting is still cheaper than buying for at least the next year or two.

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Think about 500k in the markets vs. 500k house and cash flow. In the former it may generate 15k a year (if 3% weighted avg. dividend and grow compunding at 7% on the base 500k). In the latter, model cash flow for down payment and mortgage for the same time horizon, while taking into consideration avg. property value increases amd cash savings from rent. Also consider property taxes.

Some details not discussed in above like tax rate on dividends.

Each market will have different delta. In NYC, you have to be very bullish on increased house value for it to make sense. In the Midwest, buying a house is much more attractive vs renting.

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Completely depends on the numbers.

- Buy; if you know that you will use it for the next 5 years
- Else also Buy, but something smaller that you may rent out, and cover your mortgage.

City in AZ is too general. Are you trying to live in north central phx or anthem? And your personal financial are important.

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