We'd like you to take a closer look at this supposedly rhetorical question. We'll show you why renting a beautiful, modern apartment makes perfect sense.The advantages of renting vs. buying are not only a matter of freedom and convenience, but also of
simple economics.

Convenience
Compared to those who buy a home, you can enjoy a number of
distinct benefits:

• All maintenance and repairs are included in the rent and taken care of by professionals; you do not have to make and keep appointments with various repair people.
• Complete freedom from operating issues (no condo boards, budget questions, etc.)
• Ease of moving; no finding and qualifying a buyer, waiting for a settlement date, etc.
• Privacy - no condo or neighborhood association with intrusive rules and procedures
• No legal liability associated with ownership

You Don't Have to Buy to Enjoy Luxury Living
Why rent when you can buy? The truth of the matter is, neither owning nor renting is the right answer for everyone, all the time. If this is the right time for you to enjoy the combination of a luxurious lifestyle and economic freedom, then renting may be just right for you. It certainly makes good economic sense.

Economics
The chart below demonstrates the monthly savings enjoyed by renting as opposed to buying a condominium or home of comparable quality and location. Of course, all these numbers are estimates, but they clearly reflect the bottom-line realities of the current real estate market in this area.

Cost Associated With Ownership Compared to Renting a 2 Bedroom | 2 Bath Apartment
The below analysis demonstrates potential savings enjoyed by renting as opposed to buying a condo of comparable quality and location. Savings may vary depending on cost of home, interest rate and apartment rental price.

Purchase		Rent
CAPITAL COSTS
Purchase price of a 2 Bedroom condo or home of comparable quality and location Estimated down payment at 20% $50,000 Amount to be financed $200,000	$250,000
Total Monthly Capital Costs Monthly payment (assume a mortgage interest rate of 7% for 30 years) $1,332 Lost earnings on down payment (assume 10 year US Treasury bond at 5% would earn $2,500/year) $208	$1,540
OWNERSHIP COSTS
Total Monthly Ownership Costs Real estate taxes, based on current Montgomery County standard of 1.25% of market value, plus front foot benefits, etc., annual tax bill estimated at $3,000 (for one condo unit) $250 Insurance - annual property coverage and liability estimated at $600 $50	$300
OPERATING COSTS
Total Monthly Operating Costs Condominium fees (if applicable) $250 Utilities $150 Repairs and replacements $150	$550
NET MONTHLY COST OF BUYING	$1,940	Renting  $1,275
Total Monthly Costs before income tax benefits $2,390 Less probable income tax savings at 35% of real estate taxes and mortgage interest - $450
MONTHLY SAVINGS BY RENTING VS. BUYING $665