I currenty pay $400 a month to live at home and at times its a friggin PITA. I'm looking for a house but havent fully ruled out renting due to the cost of living in this area. 1bedroom condo with garage can cost 180K+ IF you're lucky enough to find one with a garage then add $150-200 for HOA. Banks/Real Estate guys always push the whole tax cut when owning a home. I figure you might save $75-100 a month on a $220K house. when you think about it a normal Condo HOA eats up even more then the tax break and in a lot of cases is double! If I buy a condo at 195K with a 2 year arm loan I'm looking at around $900-1000 for a monthy payment BEFORE taxes, HOA, Insurance "renters" can't forget power. So after all that's said and done the monthy payment would be $1400-1500ish. Then you have to worry about losing money if you're in an area like this that has jumped what seems to be 100% in value in the last 4 years!!!!! So if the rates go up theres a chance that no one could afford anything and if for some reason you have to move you're going to hvae to lower your prices and take the chance of losing money. (I don't care what people say it's happened before and it WILL happen again, sooner or later) On the other hand theres renting. You can get a place like this. http://www.regattabayapartments.com/index.html 1bedroom for $1100 and that covers all kitchen stuff as with water/trash removel, 2 swimming pools, gym, "in some cases" tennis courts, bball courts, racquetball.... and.... if any are open a GARAGE! "at 100-150 bucks more a month" Sigh.... what to do what to do..... So what does everyone else do? rent, own, or bum? p.s I could get a normal shitty apartment for 500-700 bucks but then it wouldnt have a garage and it would be... well.... crappy. chances are the poeple leaving next door wouldnt even speak english. Annapolis Maryland = little south america.