10-15-2007, 01:04 PM
The pro/con of renting or owning are somewhat different if one is contemplating buying a property to rent to others. It is quite possible that after consideration of net rent, paper depreciation on the property and actual maintenance costs, one might show a tax loss and a cash profit. Not mentioning that historically/long term property tends to increase in value with regard to eventual selling price. Now if you're buying to live in the property, that's a horse of a different color! That said, I'd agree with the previous post "I HATE to pay someone else's mortgage!"