Letters: Home prices and schools
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Re “Buying can beat renting after 3 years,” Business, Aug. 2
The Zillow study on how long it takes for home buyers in certain areas to break even apparently does not consider one very important factor: education costs.
For example, from the data, San Marino seems a poor value compared with Pasadena, with 11.4 years to break even against 6.4 years. However, if you have two children and live in Pasadena and want to have your children attend a school comparable to the highly rated San Marino public schools, it will cost about $50,000 a year for tuition.
With education factored in, San Marino may be a better value.
Jeffrey Sheldon
San Marino
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