288-A Perfect Buy vs. Rent Case Study and Analysis

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 2 February 2016

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

This weekend a friend of mine asked me for my input on whether they should continue renting their townhome or buy an equivalent unit.

It's almost the perfect, real-life case study to consider:

practically identical units
current market prices
real numbers to analyze.

I seized the opportunity to talk it through and run the numbers.

Enjoy!

Joshua

Transcript

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0:00.0	Today on a radical personal findings we have a real live case study of rent versus buy relevant numbers relevant situation up to date and real live financial advice right now. Welcome to the Radical Personal Finance Podcast. My name is Joshua Sheets and I'm your host.
0:36.6	Thank you for being with me today. Indeed, indeed, real live financial advice.
0:41.1	Got a call over the weekend from a friend of mine saying,
0:43.4	Joshua, my husband and I, we found the perfect house and we really want to buy it.
0:49.7	And we think it's a good deal. Please help us pull the numbers apart a little bit and
0:54.5	figure out if it's a good deal or not.
0:59.4	One of the things that I do love doing and I was so proud of my friends, actually a friend of mine, a former client of mine, I was so proud that she called me instead of not calling nobody.
1:14.7	And I told her later on the phone call.
1:16.7	Obviously, I'll be protecting her identity
1:18.5	in this conversation.
1:19.8	But I told her later in the phone call.
1:21.1	I said, good for you for calling a financial
1:23.4	advisor when it comes to financial advice good for you for not calling some you know
1:27.8	your broke Uncle Joe and just asking him what he thought or good for you good for
1:32.1	you good for you for finding some new
1:33.7	options and lesson of the day number one for all of you who are listening always
1:38.2	please do that call good financial advice I do my. I get emails and questions stacked up everywhere, which I'll be
1:47.1	getting out to you soon, I'm working hard and details. I'll be getting more of those out to you.
1:51.6	But anyway, she asked me the question.
1:53.7	And so I decided to answer the question.
1:55.2	I already did have it in a private phone call with her.
1:57.8	But I took all these real life numbers
	...

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