- This topic has 60 replies, 8 voices, and was last updated 16 years, 9 months ago by
jimmyle.
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March 19, 2008 at 6:35 AM #173292March 19, 2008 at 6:52 AM #173300
jimmyle
ParticipantYes, rent for an apartment like this in Mira Mesa is around $1050 to $1100. I was looking to rent in this area but then decided to pay $200 more to live in Carmel Valley to be closer to the 5 freeway. My sister in law (a part-time realtor) told me to buy an apartment like this instead of renting. She said with 20% down, my mortgage payment would be much lower than my rent and then later I can buy a house and rent the apartment out.
Let say an apartment is selling for $130K, and you put down $26K (20%), then the principal is $104K
with interest rate around 5.7%, monthly payment is $603$603
$200 HOA
$140 Tax
—-
$943It makes sense but I thought prices might still come down lower.
March 19, 2008 at 6:52 AM #172858jimmyle
ParticipantYes, rent for an apartment like this in Mira Mesa is around $1050 to $1100. I was looking to rent in this area but then decided to pay $200 more to live in Carmel Valley to be closer to the 5 freeway. My sister in law (a part-time realtor) told me to buy an apartment like this instead of renting. She said with 20% down, my mortgage payment would be much lower than my rent and then later I can buy a house and rent the apartment out.
Let say an apartment is selling for $130K, and you put down $26K (20%), then the principal is $104K
with interest rate around 5.7%, monthly payment is $603$603
$200 HOA
$140 Tax
—-
$943It makes sense but I thought prices might still come down lower.
March 19, 2008 at 6:52 AM #173194jimmyle
ParticipantYes, rent for an apartment like this in Mira Mesa is around $1050 to $1100. I was looking to rent in this area but then decided to pay $200 more to live in Carmel Valley to be closer to the 5 freeway. My sister in law (a part-time realtor) told me to buy an apartment like this instead of renting. She said with 20% down, my mortgage payment would be much lower than my rent and then later I can buy a house and rent the apartment out.
Let say an apartment is selling for $130K, and you put down $26K (20%), then the principal is $104K
with interest rate around 5.7%, monthly payment is $603$603
$200 HOA
$140 Tax
—-
$943It makes sense but I thought prices might still come down lower.
March 19, 2008 at 6:52 AM #173199jimmyle
ParticipantYes, rent for an apartment like this in Mira Mesa is around $1050 to $1100. I was looking to rent in this area but then decided to pay $200 more to live in Carmel Valley to be closer to the 5 freeway. My sister in law (a part-time realtor) told me to buy an apartment like this instead of renting. She said with 20% down, my mortgage payment would be much lower than my rent and then later I can buy a house and rent the apartment out.
Let say an apartment is selling for $130K, and you put down $26K (20%), then the principal is $104K
with interest rate around 5.7%, monthly payment is $603$603
$200 HOA
$140 Tax
—-
$943It makes sense but I thought prices might still come down lower.
March 19, 2008 at 6:52 AM #173219jimmyle
ParticipantYes, rent for an apartment like this in Mira Mesa is around $1050 to $1100. I was looking to rent in this area but then decided to pay $200 more to live in Carmel Valley to be closer to the 5 freeway. My sister in law (a part-time realtor) told me to buy an apartment like this instead of renting. She said with 20% down, my mortgage payment would be much lower than my rent and then later I can buy a house and rent the apartment out.
Let say an apartment is selling for $130K, and you put down $26K (20%), then the principal is $104K
with interest rate around 5.7%, monthly payment is $603$603
$200 HOA
$140 Tax
—-
$943It makes sense but I thought prices might still come down lower.
March 19, 2008 at 7:09 AM #173215Coronita
ParticipantJimmyle,
Question for you.
Assuming your rental in CV is $1300/month. This is for a 1 bedroom.. How large?
Also, mind if you disclose which complex you're currently renting from in CV? I just want to get a feel for what CV rents are these days.
March 19, 2008 at 7:09 AM #172878Coronita
ParticipantJimmyle,
Question for you.
Assuming your rental in CV is $1300/month. This is for a 1 bedroom.. How large?
Also, mind if you disclose which complex you're currently renting from in CV? I just want to get a feel for what CV rents are these days.
March 19, 2008 at 7:09 AM #173239Coronita
ParticipantJimmyle,
Question for you.
Assuming your rental in CV is $1300/month. This is for a 1 bedroom.. How large?
Also, mind if you disclose which complex you're currently renting from in CV? I just want to get a feel for what CV rents are these days.
March 19, 2008 at 7:09 AM #173220Coronita
ParticipantJimmyle,
Question for you.
Assuming your rental in CV is $1300/month. This is for a 1 bedroom.. How large?
Also, mind if you disclose which complex you're currently renting from in CV? I just want to get a feel for what CV rents are these days.
March 19, 2008 at 7:09 AM #173322Coronita
ParticipantJimmyle,
Question for you.
Assuming your rental in CV is $1300/month. This is for a 1 bedroom.. How large?
Also, mind if you disclose which complex you're currently renting from in CV? I just want to get a feel for what CV rents are these days.
March 19, 2008 at 7:44 AM #172908jimmyle
ParticipantLazy,
Yes, it is $1300 a month for a 1b/1b 792 sq ft. My complex is ‘The Lakes’ on Carmel Vista Rd. near the 5 and 56. This is an older complex (~ early 1980s). You should expect to pay around $1350-1400 for a 1b/1b in other newer complexes.
March 19, 2008 at 7:44 AM #173246jimmyle
ParticipantLazy,
Yes, it is $1300 a month for a 1b/1b 792 sq ft. My complex is ‘The Lakes’ on Carmel Vista Rd. near the 5 and 56. This is an older complex (~ early 1980s). You should expect to pay around $1350-1400 for a 1b/1b in other newer complexes.
March 19, 2008 at 7:44 AM #173250jimmyle
ParticipantLazy,
Yes, it is $1300 a month for a 1b/1b 792 sq ft. My complex is ‘The Lakes’ on Carmel Vista Rd. near the 5 and 56. This is an older complex (~ early 1980s). You should expect to pay around $1350-1400 for a 1b/1b in other newer complexes.
March 19, 2008 at 7:44 AM #173351jimmyle
ParticipantLazy,
Yes, it is $1300 a month for a 1b/1b 792 sq ft. My complex is ‘The Lakes’ on Carmel Vista Rd. near the 5 and 56. This is an older complex (~ early 1980s). You should expect to pay around $1350-1400 for a 1b/1b in other newer complexes.
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