Should You Rent or Buy?

SHOULD YOU RENT OR BUY? H 1. HOUSE 38% Trulia says buying a home is 38% cheaper than renting nationally, ranging from being 66% cheaper in Detroit to being just 5% cheaper in Honolulu. FOR SALE QUESTION TO ASK YOURSELF Will you need to move around in the next 7 years? (If not, renting may be a better bet.) 2. CAR image from www.honda.com Want a fly ride, or just a way to get QUESTION TO ASK YOURSELF around town? A 2013 Honda Accord Do you like to upgrade your car every other year? (If yes, then buying isn't the way to go. coupe lists for $25,000, but a lease with no downpayment is is $300 a month for 35 months, before tax. 3. Gowns and Tuxedos Are you a social butterfly, or just a one-night wonder? Designer evening wear can set you back $200-$5,000. Meanwhile, Rent The Runway loans gowns for $70-$400, and tux rentals at Men's Wearhouse start at $59. QUESTION TO ASK YOURSELF Can you be caught dead in the same outfit twice? BLURAY DVo O DIOITAL CPY. Diee PIXAR 4. Blu-Rays Are you more of a film buff, or a collector? Most new release Blu-Rays go for $30, though they can be as cheap as $5 once it hits the bargain bin. But a subscription to Netflix starts at just $8 a month. .1Animated im oF The QUESTION TO ASK YOURSELF O0000OU0O0 S30 for one Blu-Ray DVD Will you watch a movie or TV show 30000000 $8 more than once? month with Netflix subscription 5. Designer Handbags What do you love more - the handbag or the designer? An Hermes Birkin bag runs be- tween $7,400-$150,000, but on Bag Borrow or Steal, you can rent one for $600 a month. mae trom wiw.Isdiaco QUESTION TO ASK YOURSELF Can you really let a good handbag go? 6. Tools Are you a regular handyman, or an aspiring DIY daydreamer? A miter saw goes for about $150, but Home Depot will rent one to you for $50 a day, give or take. $5 $5 $5 $5 $5 QUESTION TO ASK YOURSELF $5 $5 $5 $5 $5 $5 $5 $5 $5 $5 How many projects do you have lined up? $45 $5 $5 $5 $5 $5 $5 $5 $45 $5 $5 $5 $5 $5 $5 $5 $5 $5 $5 Buying a miter saw v.s. Renting a miter saw 7. Sporting Equipment Are you a true athlete, or a weekend warrior? A full set of snowboarding gear can cost upwards of $1,000, and this includes the board, boots, bindings, and goggle. A daily snowboard rental can run about $35-$50 a day. QUESTION TO ASK YOURSELF Will you play enough to put a dent in your gear? 8. Textbooks Do you see your school books as keepsakes, or paperweights? The price tag on a single textbook can be as high as $200. With that same $200, students can rent six eTextbooks from CourseSmart for five months. QUESTION TO ASK YOURSELF What can you get with $200 dollars? Will your future home have Buy a library? Rent 9. Furniture Are you ready to nest, or do you migrate QUESTION TO ASK YOURSELF often? Good, quality furniture that's made of real wood isn't easy to move can cost How much wear $1,000-$5,000 per item. Renting furniture for a year with CORT goes for about and tear will your couch face? $200-$400 a month. 10. Music Music lover, or just want something to listen to? Buying a song on iTunes or Amazon can cost up to $1.29 -- that's $10-$15 for te whole album. Or you can stream music on Spotify for $10 a month, if you want an ad-free experience. QUESTION TO ASK YOURSELF Do you need the street cred of owning your music? Ytrulia