Debating whether to stay at a place where I'm renting (that's below market rent) vs buying a place. I can afford the down payment, but don't want to end up house poor.
Does it make sense to stay renting if the monthly fees associated with buying are more than rent. For example, if my rent is $1k a month, but Taxes, insurance, HOA and interest on the loan are >$1k, doesn't it make sense to stay renting as I'm not recouping ether set of expenses.
Also good to know, my lease is month to month and my rent hasn't gone up in the four years i've been there.
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