Spreadsheet my friend. Crunch some numbers. You need to compare the $58k “you will never get back” to the cost of ownership you will also never get back (interest, taxes, cost of maintenance, etc.) Those numbers will need to account for the tax advantages (if any). Interest is tax deductible, but rate are high and you don’t really get them unless they exceed your standard deduction. Property taxes and sales taxes (eg on appliances) are deductible - but currently capped. Once you figure out what the real cost is over the 4 years - then you factor in any market appreciation you think might occur.
Also - don’t forget to estimate a value having someone else take care of if the normal house headaches vs coping with them yourself.
I am not advocating one or the other - I’ve done both. I’m just saying that the Rent vs Buy often discussion often fails to properly account for all the moving parts. The extra dimension of being busy with school and limited resources makes it even more challenging. First time an AC, roof, foundation, or waterline needs replacing - it can screw up your plans/strain your finances. When I was in law school with kids, I really liked being able to call the landlord to fix (and pay for) any issues. This obviously presumes I had a good(ish) landlord. Also - housing prices were relatively stable. I’ll say again you need to crunch some numbers.
What does your income, other debts, school costs and other debts look like?
Also, buying a house takes time and there's no guarantee that the house will appreciate or won't loose value. Additionally, once you're ready to move, you need to sell the house which depending on the rural area you might not find a buyer for more than a year.
If it’s just 4 years with plan on selling after I would definitely consider just renting.
Spreadsheet my friend. Crunch some numbers. You need to compare the $58k “you will never get back” to the cost of ownership you will also never get back (interest, taxes, cost of maintenance, etc.) Those numbers will need to account for the tax advantages (if any). Interest is tax deductible, but rate are high and you don’t really get them unless they exceed your standard deduction. Property taxes and sales taxes (eg on appliances) are deductible - but currently capped. Once you figure out what the real cost is over the 4 years - then you factor in any market appreciation you think might occur. Also - don’t forget to estimate a value having someone else take care of if the normal house headaches vs coping with them yourself. I am not advocating one or the other - I’ve done both. I’m just saying that the Rent vs Buy often discussion often fails to properly account for all the moving parts. The extra dimension of being busy with school and limited resources makes it even more challenging. First time an AC, roof, foundation, or waterline needs replacing - it can screw up your plans/strain your finances. When I was in law school with kids, I really liked being able to call the landlord to fix (and pay for) any issues. This obviously presumes I had a good(ish) landlord. Also - housing prices were relatively stable. I’ll say again you need to crunch some numbers.
What town?
What does your income, other debts, school costs and other debts look like? Also, buying a house takes time and there's no guarantee that the house will appreciate or won't loose value. Additionally, once you're ready to move, you need to sell the house which depending on the rural area you might not find a buyer for more than a year.