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Originally Posted by Erin  That doesn't make sense. Are you factoring in taxes, insurance, etc? That stuff tacks on an extra $500/month to our mortgage payment. Make sure you have ALL the information first.
If it's that cheap to buy a house then why would rents be so high? Generally when real estate is less expensive rent should be too. You could probably rent someone's house who can't sell and is desperate for just enough to cover their mortgage. Like our neighbors couldn't sell and they are renting out their townhouse that's identical to ours... |
I don't know if rent is so high because it's a pretty nice area and there is a large college there. You can find rent cheaper but you pay for it. We found that out when we rented a house that we thought was a good price for what is was. Come to find out it had mold like no other and a terrible landlord. The house we are looking to buy isn't very expensive compared to what you probably live in.
Our home only would cost $125,000. It also is a liitle farther from town where all the rentals are.