My husband and I are in our 30s and used to rent in Brooklyn. After we had a baby, we moved to the suburbs. We’re now thinking about buying a house, but I can’t wrap my mind around how it would be financially advantageous. In Port Washington on Long Island, we pay $2,600 a month in rent for a beautiful apartment. For a barely livable house, we would pay at least $3,600 a month, not counting the additional expenses of ownership. From my estimates, we will save $12,000 a year if we continue to rent. What am I missing?
