Rather, for a $1M house:
1. The bank lends me $800k to buy a house with a 6.5% interest. you need to put 200k$ as a downpayment.
2. The rent equivalent is 28000$ a year.
The math is way more complex than this, but what really matter at this point is the gap between renting and buying a place.
Rather, for a $1M house:
1. The bank lends me $800k to buy a house with a 6.5% interest. you need to put 200k$ as a downpayment.
2. The rent equivalent is 28000$ a year.
The math is way more complex than this, but what really matter at this point is the gap between renting and buying a place.