I don’t think this is true at the moment (with interest rates) or in cities, as a rule. A 2-bedroom apartment rents for $3K but sells for $1M+ where I live in the Boston area, so a mortgage payment would be at least double our rent :(
I’m at the point where I very much want to own a home - emotionally - but it’s hard to justify financially.
I don’t think this is true at the moment (with interest rates) or in cities, as a rule. A 2-bedroom apartment rents for $3K but sells for $1M+ where I live in the Boston area, so a mortgage payment would be at least double our rent :(
I’m at the point where I very much want to own a home - emotionally - but it’s hard to justify financially.
yep. my apartment is 2500 a month. but it would sell for almost a million bucks.
2500 gets me a 400K house at best, which is a tear-down.