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Cost of owning a home

Most people think renting is like "throwing money in the toilet". When you buy a home, money gets "thrown away into the toilet also", but the hope is that the home-appreciates & it compensates for the "lost" money. If the home does not appreciate at least 4% each year, you are better off renting in most cases.

Cost of owning a home = [Cost of the house] + [Closing cost while buying the house] + [interest paid] + [taxes on the home] + [home improvements] + [Home owner dues] + [Maintenance] + [additional expenses towards utilities and/or extra commute] + [possible gains from the down payment, if this amount was invested elsewhere] - [The rent you would have paid if you did not own a home] – [income taxes saved after factoring for standard deduction]

Profit/Loss after selling the home = [Sale price] – [Cost of owning] – [Realtor commission] – [sales/excise tax]
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