Should I rent a 4 bedroom house or buy a home for $1.2-1.5m?

To rent a 4 bedroom/2 bath home will cost you $4,000–5,000 a month. Why would you pay $48,000-$60,000 a year and end-up with nothing when you could buy a home a get possible income tax deductions, equity buildup and appreciation?

If you only plan to stay for a few years then renting might make sense but after five years you will have paid $240,000–300,000 in rent (not including annual rent increases). Obviously, as a Realtor for 44 years I’m a bit biased but none of my hundreds of homebuyers has ever regretted buying a home in the Bay Area.

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