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Should I buy or continue to rent?
Rent is 550 for a two bedroom monthly
subject home to buy is 3/2 for 100k, 2300 annual prop tax
home values expected to stay flat in area
plan to move in 2-3 years.
Income above 80k
Should I buy or continue to rent?
Rent is 550 for a two bedroom monthly
subject home to buy is 3/2 for 100k, 2300 annual prop tax
home values expected to stay flat in area
plan to move in 2-3 years.
Income above 80k
Should I buy or continue to rent?
Rent is 550 for a two bedroom monthly
subject home to buy is 3/2 for 100k, 2300 annual prop tax
home values expected to stay flat in area
plan to move in 2-3 years.
Income above 80k
Thanks!!
550 rent? Your property tax broken down is about 20% of your monthly rent payment per year
Say 5% down of 100k is 5k. That's about 11months worth of rent.
Homes not expected to go up in value? Could possibly go down? Kiss your "equity" good bye.
Plan on moving in 2-3 years? How much is that realtors commission again? Remember that commission is Paid from the TOTAL house sale price not the profit of the sale.
And remember in that 2-3 years you could have. Some repairs like HVAC water heater roof slab leak all can be very very costly. Repairs that now you are not directly liable for.
It may seem that you're "wasting" money but you really aren't.
Quote:
Originally Posted by greenlawn1
Sounds like I should keep renting, but the urge to buy is so strong...
Yeah but if you save your money now it will put you in a better financial position to buy when you're looking to stay for more than 2-3 years.
Good luck in your decision
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