owning a house vs renting costs

[sarad]

Re: owning a house vs renting costs

@TLK

My experience is that house adds up to 30% into your monthly cost. So if you are currently spending 1500, expect 2000.

But its not affording a house that hits you financially, its getting into one. If you have 20% down payment in your savings, by all means you should buy a house. If not, then wait.

What do you mean getting into a house hits you financially ?
I am expecting the expense to go to atleast $2000 … I am not sure what is better to save the additional $500 each month and use it for some other purpose like saving for college fee for kids or spend the additional money and own a house 20 or 30 years later ???