I don’t know the current cost to rent a 3100 sq/ft home in 4S but I think its above my cost of ownership which is as follows:
Note: These are actual numbers as opposed to estimated, often inflated, “cost of ownership” numbers often touted to make a point.
Mortgage (Int. Only 10/1 @ 4.5% on 404K) $1515 (after 20% down)
Mello Roos $240
Property Tax $700
HOA $65
Insurance $65
Total ownership cost (B4 taxes) $2585
less tax deduction 1515+940×12 divided by .28 (28% bracket) = ($687/mo.)
Monthly cost of ownership $1900
PerryChase if you know where one can rent a 3100 5bd 4.5bath home in 4S for $1900 mo. please advise I have many friends who are interested in renting a place at that price. I haven’t seen it however.
As a purely monetary investment you may, or may not, be right when you speculate about the financial gain/loss outcome by 2010 of holding a home bought in 4S back in 2002. However, the home for my family along with the great environment we enjoy in 4S makes it more than a purely financial investment. To be sure your home has a huge financial investment component but its not everything (i.e. where my kids grow up and go to school etc.).
