Buying a home is a big decision that comes with a load of questions. Chief among them: Will you be putting down roots for long enough to make the purchase worthwhile? For example, in New York City, it may take up to 18 years for buying a home to be worth the investment, according toBusiness Insider.
That means that in New York City it would take 18 years to reach the “breakeven point”—the point at which the costs of renting become greater than the total costs of buying.
While 18 years is a long time, not all big cities have such a long wait. In fact, there are 10 big cities in the U.S. that will allow homebuyers to reach that breakeven point in just over four years or less.