Originally Posted by
CYdTracked
I don't know what your situation is but I can tell you right now in the Des Moines area the rental market is a lot more expensive a month than if you were to just buy something and take advantage of the low interests rates and housing market values that are down. I don't know what a farm house rental is going for but the house next door to me in town in the Beaverdale area just went up for rent and they are asking $1000/mo plus you pay for utilities and upkeep of the lawn for a 3 bedroom ranch that is just over 1000 sq feet and needs some updating done to it. A quick search of craigslist and that is right about the average for a house like that from what I could tell.
For that kind of money and the rates today financially it makes more sense to buy. Even if you don't plan on living in it long term you could turn it into an investment property and either rent it out or do some renovations and hope to make a little money on it in a couple years hoping the market recovers a little bit. I just hate the idea of throwing that kind of money away on rent and never seeing it again when you could put it into some equity and get some of that value back even if it is a short-term thing.