[quote=jpinpb]I’m sorry. I did forget to add insurance into the monthly payment. I am not sure what that is. Let’s be conservative there also. What should we say? $50 a month? The HOA only covers the exterior.
So I’m looking at close to 2700 (not counting PMI) a month to own versus 1800 to rent. I’m not sure what the tax write-off would be, but I don’t think it’ll be 900 a month. I read somewhere in this thread 300 a month.
So that means I’ll only be overpaying 600+ a month, not counting PMI and whatever special assessment may be in store for me if I buy. Not taking into consideration the stealth of two units w/NODs that may end up on the market as a short sale in the future (unless they get bought in bulk or loan modified) Their loan amounts are more than 380k (closer to 450k) and not taking into consideration the unit that is already attempting a short sale at 350k.
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For 380K, you’re probably looking at over 400 a month in tax deductions (considering both state and fed) – depends, of course, on the interest rate.
But yes, you’re right. I don’t think Clairemont pencils out yet.
