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04:18 AM

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Message Subject Mortage vs Apartment living cost
Poster Handle Anonymous Coward
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mortgage: 600$ monthly payment +

4,300 tax yearly/12months=358$

600+358= 958$

not too bad.....i guess

apartment living, i can get a very nice 2 bedroom w/ all utilities included for 750$

200$monthly difference lets say for the next 360 months=72000$ You'll be saving living in an apartment over the house.

Thats also not including all the extra fee's included with home ownership........insurance, upkeep, landscaping etc...etc..........FOR THE NEXT 30 years

What do you night owls think?
 Quoting: Anonymous Coward 34588948

$750 rent for two bedrooms? Is that in the ghetto?

Around here the cheapest I could have rented, would have been a one bedroom one bath apartment for $920 where I would also have to pay for water and electricity.

So instead I opted for a two story, 3 bedroom 3bathroom over 1600 sq ft duplex townhouse for a mortgage including taxes of $929. And also no association fees with a nice backyard.

So you tell me which is the better deal?

Back in the day you might be right, but with houses being sold short, costing less than half of what they would cost before, it would not be smart to rent instead of owning. Like someone said, rent will continue to increase especially with a lot of people now renting due to employment and credit issues, but buy a house now, and you'll be happy with the payments as well as the equity in the future.

You get a lot more property now with your money than you did before.
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