Tired of Being a Homeowner and Want to Rent?

You are not alone.

There is a wave, albeit small where people are deciding that they have had enough with fixing things, making mortgage payments and suing the neighbors.

There are examples of people that have seen taxes go up even though they have equity and have refinanced to today's low mortgage rates (see usloans.com for live rates) and still have payments that are higher than what they can rent a similar property for.

The supply and demand features are still important because you do want to have someone who wants and can afford to buy your house!

Are you one of these people? Here's a way to figure it out.

Take the cost in the last few years of things you pay for that your landlord normally would. Divide it by the number of months and add that number to your mortgage payment.

Then take the amount of equity you have and multiply that by 3% and then divide by 12.

Then add that amount to the previous two numbers.

What did you get? The total that you are really paying per month.

If rents are significantly lower than that and you don't think properties are going anywhere in value in your area any time soon? Then, sell.

Cold hard numbers, I know. You'll have to put your own emotions into it.

But, if you are in the Philadelphia, San Francisco or Los Angeles area....let's talk :)