Thanks Celliot, that means a lot.
Hmm.. I have only a basic understanding of amoritization, but it means that you only pay interest (or mostly interest) for the first few years, right? That seems like a scam.. crazy! It also seems like it would indeed make a good case for holding off on the home.
I just can't believe something like that is legal. Seems rather silly to me.
Sir Chadwick, you also raise a good point. If I rent, I'll get the cheapest thing possible, which is 419/month in my town. Of course, the houses I'm looking at are pretty cheap, but I could go a lot cheaper if I really wanted to!
Dragon - I can rent a house here, but it would be a lot more expensive than an apartment. I'm really only interested in the housing scenario if I can own it, fix it up, and the whole shebang.
Perhaps I really will postpone the buying process then. It's exciting in a whole different way to be able to rent, because I can do that now.. as in, like, tomorrow. And if I rented with a friend I'd have extremely low housing costs.
Lol, dragon.. I was slightly confused when you said I was comparing condos to houses, because I don't think we have condos here? Or maybe they are just called something else.
I'm curious, does anyone know if the rent vs buy calculator I listed above (the NY times one) takes into account amortization? If it doesn't, I can see a short-term buy like mine being severely handicapped!