3 ms·
sure, if you're going to live in a 3BR+ home either way, it doesn't take long to break even on a purchase in most markets. but I'm living in a 1BR apartment th
by leetcrew 4y ago
sure, if you're going to live in a 3BR+ home either way, it doesn't take long to break even on a purchase in most markets.
but I'm living in a 1BR apartment that comes with a garage parking spot, an ideal setup for me personally. a mortgage for an entry level home in the same neighborhood is comparable to my rent, but it would be a strict downgrade to my QOL, as I don't actually benefit from the extra sqft and would have to put in more work to maintain it. obviously a house with a garage would be much more expensive. I've looked at 1BR condos, but the condo fee generally means it takes much longer to break even vs renting a similar property.
- smileysteve 4y agoPricing is different in different markets. In Atlanta, I was renting in a 1br condo for 7 years; when rent went up 15% in one year, it was free (after principal subtraction) for me to buy/move to a 2br in the same building in 2017. (Even more advantageous as a friend moved in). By 2019 comparable rents for a 2br were 2x my total payments.