Quote:
Originally Posted by cured13
Just compare the bills: one year renting 2beds 1 washroom (all in) vs one year of owning that house
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Built in 2007
Bought in 2009 for $171k
30 yr fixed rate
Mortgage: $929.45 monthly (includes priciple, interest, and escrow)
APR: 3.63%
Taxes: Covered by my escrow
Insurance: Covered by my escrow
Water: ~$50, includes garbage and sewer(thanks to desert landscaping)
Electricity: ~$60 in cool months and ~$200 in hotter months
Gas: ~$50
Total: $1089-$1229 depending on the month
Zillow Zestimate (lol): $252k
(Not bad for 2,942 sq ft, 2 story, 4 bd, 3 ba, 3 car house)
In the end I'm owning my house and can do what I want with it. Plus I'm currently renting it out right now, so now I only pay the mortgage payment. My renters pay me $1,500 monthly