Indicate your assumptions and calculations and comment on whether buying versus renting would make more sense in the following scenario. The couple each grosses $4000 monthly income. They have saved for the house purchase and are currently renting a two bedroom apartment for $1500 a month. They want to purchase a two bedroom condo for , which has monthly expenses as follows: property tax $220, heat $100, and condo fees $350. Consider closing costs, cash flow and other calculations to justify whether you recommend they buy, or not.