FYI – the house I’m in is pretty much brand new…maybe a year old. It’s around 2000 sq ft. Nothing close to the 3300 sq ft home you’re talking about… but it’s in a very nice community. We like the house but the owner is smoking crack based on what they think they can get for this thing.
Right now, if I had to move out – I’d be able to find a comparable rental house as there are a ton of them on the market. I could find any number of rental houses – although maybe not as cheap as this one. this particular house was slightly smaller than the “normal” hosue in this area. A lot of the recently built homes in Temecula/Murrieta are 2500-3000 or even more. This one at just under 2000 sq ft is “small”. Although it was immaculate, had a nice yard, and came iwth all the applicances..perfect for a rental. at 1400/month..it was dirt cheap.
if I had to move to a “larger” house, I’d be able to get a house that is 2500sq ft or so for $1700-1800. $2000/month would put me in an “executive” home..huge, all the bells/whistles…but more than I really need.
I have found some websites that do a nice job of letting you plug in various variables and do a nice “rent vs. buy” comparison..but all of them assume the housing market will appreciate over time…
to “buy” this hosue would cost me around $3000/month when you factor in the mortgage, taxes, insurance, and HOAs. my guess is the owner will sell it when my lease s up b/c they are losing too much money by renting…
if i have to move, i can easily find another house like this one or one even nicer. rents here average 1700-1800. this house i’m in was on the cheap side at ony 1400 b/c it’s “small” at only 2000 sq ft…. lots of homes here are 3000+
even with the tax writeoff…renting is still cheaper.
