Quote:
Originally Posted by diesel_test
they're at work most times of the day anyway
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Maybe you should be at work during the day too...
Anyways, my post was not meant to be "oh hey look at me" although I can see how that may have come out, but it was just a real world example of how a lot of properties make MUCH more sense to rent than to buy.
But with that said... the math looks very different on other units. In the same building as my 2BR, 1BR units on a decent floor with a decent view rent for around $1700/month. You can buy these units for around $390k, so the math of these units looks much better... You put $80k down, your mortgage payment is around $1300, and by the time you pay strata and property taxes, your total bill is around $1850. This unit only needs to appreciate 2.25% per year to break even, where as the 2BR unit I live in needs to go up in price almost 3 times as much!
Mark