Basically my mother wants to move closer to us and rents range from $1900-$2000/month for a 2br place. Condo's similar size with mortgage, insurance, taxes, hoe, etc come out to be $2k-$2.2k/month.
She's 66 so assuming she lives another 10 years in where ever she moves that's $240k in rent paid or $264k paid out if she buys (counting everything). After the ten years she has $0 to show for renting it but should have ~$55k in principle plus any appreciation with the condo. Not sure if I should count this but since we're in the 33% tax bracket if I'm on the loan I can deduct the mortgage interest and get back $3500/year in tax too contribute to the condo which brings the monthly payment down right back down to the cost of renting. It seems like a no-brainer to buy if we can but I'm worried I'm missing something. Does this math work out, what obvious things am I missing?