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This is a superb calculator, however it assumes a faster growth rate relative to inflation than is likely. Try it with a -1% appreciation rate (which is the hi
by grandalf 16y ago
This is a superb calculator, however it assumes a faster growth rate relative to inflation than is likely. Try it with a -1% appreciation rate (which is the historical average for residential real estate since ww2)
- modeless 16y agoAnother thing to check is condo or homeowner's association fees. The default value in the calculator is 0, but for many condos the fees are 1/4 or more of what you'd pay in rent on a comparable apartment, which makes a huge difference long-term.
- yardie 16y agoEvery place I've, rented the association fees were in addition to the rent. It might be included in the rent but listed as a seperate item, or it could be the renter that pays directly. In any case, association fees weren't included in the deposit. In my case rent was 1500, deposit was 3000, but the check every month was 1700.
- modeless 16y agoI've never seen HOA fees listed separately from rent for apartment buildings. I've rented in LA and Seattle; maybe it's different other places.
- yardie 16y agoApartment buildings normally don't have HOA fees. I can't imagine why they would since no one there is a homeowner. If you are renting a condo then the owner may or may not include the fee in the rent. In my case this charge includes heat and water, 2 things that change frequently.