- This topic has 85 replies, 8 voices, and was last updated 15 years, 4 months ago by Scarlett.
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December 22, 2008 at 2:04 PM #319502December 22, 2008 at 2:06 PM #319007carlsbadworkerParticipant
By the way, I read somewhere that historically, at the housing bottom, buying is 10% cheaper than renting. I think 4B house rental usually is 10% more expensive than 3B apartment. That’s why I used the formula that I am using.
December 22, 2008 at 2:06 PM #319359carlsbadworkerParticipantBy the way, I read somewhere that historically, at the housing bottom, buying is 10% cheaper than renting. I think 4B house rental usually is 10% more expensive than 3B apartment. That’s why I used the formula that I am using.
December 22, 2008 at 2:06 PM #319406carlsbadworkerParticipantBy the way, I read somewhere that historically, at the housing bottom, buying is 10% cheaper than renting. I think 4B house rental usually is 10% more expensive than 3B apartment. That’s why I used the formula that I am using.
December 22, 2008 at 2:06 PM #319425carlsbadworkerParticipantBy the way, I read somewhere that historically, at the housing bottom, buying is 10% cheaper than renting. I think 4B house rental usually is 10% more expensive than 3B apartment. That’s why I used the formula that I am using.
December 22, 2008 at 2:06 PM #319507carlsbadworkerParticipantBy the way, I read somewhere that historically, at the housing bottom, buying is 10% cheaper than renting. I think 4B house rental usually is 10% more expensive than 3B apartment. That’s why I used the formula that I am using.
December 22, 2008 at 2:18 PM #319012ScarlettParticipant[quote=carlsbadworker]Assume if you are buying 4B house, the formula that I uses is the local decent-shape 3B apartment rent (maybe with one garage rental as well). There should be plenty of data from the apartment ads. I figure that’s the bottom of the housing rental price.
(…)
Then you calculate mortgage, HOA, MeloRoos, property tax and insurance. If those two prices are close, then I think it is time to buy. Sure, you will be out the downpayment, but you also get some tax benefits on the interest. I call it a wash.
(…)
In the end, however, I think it is OK to overpay a little as long as you like the house. The difference in investment return is going to be small as long as you are paying attention to the buy/rent tradeoff.
[/quote]Thanks, Carlsbadworker! 3 BR apt rent – that’s a very good idea! Sure, the apartments rents are more reliable as a market indicator…. I am sure there are some 3 bdr in PQ area. Congrats for you, btw!
Owning a house has its benefits for your lifestyle – extra room/storage/garage, yard/patio, freedom of decorating/customizing, etc. For us it means also longer commute, but it’s not very bad.
December 22, 2008 at 2:18 PM #319364ScarlettParticipant[quote=carlsbadworker]Assume if you are buying 4B house, the formula that I uses is the local decent-shape 3B apartment rent (maybe with one garage rental as well). There should be plenty of data from the apartment ads. I figure that’s the bottom of the housing rental price.
(…)
Then you calculate mortgage, HOA, MeloRoos, property tax and insurance. If those two prices are close, then I think it is time to buy. Sure, you will be out the downpayment, but you also get some tax benefits on the interest. I call it a wash.
(…)
In the end, however, I think it is OK to overpay a little as long as you like the house. The difference in investment return is going to be small as long as you are paying attention to the buy/rent tradeoff.
[/quote]Thanks, Carlsbadworker! 3 BR apt rent – that’s a very good idea! Sure, the apartments rents are more reliable as a market indicator…. I am sure there are some 3 bdr in PQ area. Congrats for you, btw!
Owning a house has its benefits for your lifestyle – extra room/storage/garage, yard/patio, freedom of decorating/customizing, etc. For us it means also longer commute, but it’s not very bad.
December 22, 2008 at 2:18 PM #319411ScarlettParticipant[quote=carlsbadworker]Assume if you are buying 4B house, the formula that I uses is the local decent-shape 3B apartment rent (maybe with one garage rental as well). There should be plenty of data from the apartment ads. I figure that’s the bottom of the housing rental price.
(…)
Then you calculate mortgage, HOA, MeloRoos, property tax and insurance. If those two prices are close, then I think it is time to buy. Sure, you will be out the downpayment, but you also get some tax benefits on the interest. I call it a wash.
(…)
In the end, however, I think it is OK to overpay a little as long as you like the house. The difference in investment return is going to be small as long as you are paying attention to the buy/rent tradeoff.
[/quote]Thanks, Carlsbadworker! 3 BR apt rent – that’s a very good idea! Sure, the apartments rents are more reliable as a market indicator…. I am sure there are some 3 bdr in PQ area. Congrats for you, btw!
Owning a house has its benefits for your lifestyle – extra room/storage/garage, yard/patio, freedom of decorating/customizing, etc. For us it means also longer commute, but it’s not very bad.
December 22, 2008 at 2:18 PM #319429ScarlettParticipant[quote=carlsbadworker]Assume if you are buying 4B house, the formula that I uses is the local decent-shape 3B apartment rent (maybe with one garage rental as well). There should be plenty of data from the apartment ads. I figure that’s the bottom of the housing rental price.
(…)
Then you calculate mortgage, HOA, MeloRoos, property tax and insurance. If those two prices are close, then I think it is time to buy. Sure, you will be out the downpayment, but you also get some tax benefits on the interest. I call it a wash.
(…)
In the end, however, I think it is OK to overpay a little as long as you like the house. The difference in investment return is going to be small as long as you are paying attention to the buy/rent tradeoff.
[/quote]Thanks, Carlsbadworker! 3 BR apt rent – that’s a very good idea! Sure, the apartments rents are more reliable as a market indicator…. I am sure there are some 3 bdr in PQ area. Congrats for you, btw!
Owning a house has its benefits for your lifestyle – extra room/storage/garage, yard/patio, freedom of decorating/customizing, etc. For us it means also longer commute, but it’s not very bad.
December 22, 2008 at 2:18 PM #319513ScarlettParticipant[quote=carlsbadworker]Assume if you are buying 4B house, the formula that I uses is the local decent-shape 3B apartment rent (maybe with one garage rental as well). There should be plenty of data from the apartment ads. I figure that’s the bottom of the housing rental price.
(…)
Then you calculate mortgage, HOA, MeloRoos, property tax and insurance. If those two prices are close, then I think it is time to buy. Sure, you will be out the downpayment, but you also get some tax benefits on the interest. I call it a wash.
(…)
In the end, however, I think it is OK to overpay a little as long as you like the house. The difference in investment return is going to be small as long as you are paying attention to the buy/rent tradeoff.
[/quote]Thanks, Carlsbadworker! 3 BR apt rent – that’s a very good idea! Sure, the apartments rents are more reliable as a market indicator…. I am sure there are some 3 bdr in PQ area. Congrats for you, btw!
Owning a house has its benefits for your lifestyle – extra room/storage/garage, yard/patio, freedom of decorating/customizing, etc. For us it means also longer commute, but it’s not very bad.
December 22, 2008 at 3:50 PM #319047peterbParticipantPerhaps you could try running an ad on Craigslist saying what you’re looking for and how much you’re willing to spend? See what kind of responses you get. No reason to be passive here when the data is so important to your analysis. Search for other ways as well, like property management companies, etc….
I think you may discover an interesting trend as well as pick-up some data that’s not easily attainable. I’ve often wanted to see a correlation of rental prices for a given unemployment level. Or occupancy rates of residential units and homes correlated to rental price trends. A study well worth making these days since so many are utilizing the “rent vs. buy” calculation as their logic for purchasing right now.December 22, 2008 at 3:50 PM #319399peterbParticipantPerhaps you could try running an ad on Craigslist saying what you’re looking for and how much you’re willing to spend? See what kind of responses you get. No reason to be passive here when the data is so important to your analysis. Search for other ways as well, like property management companies, etc….
I think you may discover an interesting trend as well as pick-up some data that’s not easily attainable. I’ve often wanted to see a correlation of rental prices for a given unemployment level. Or occupancy rates of residential units and homes correlated to rental price trends. A study well worth making these days since so many are utilizing the “rent vs. buy” calculation as their logic for purchasing right now.December 22, 2008 at 3:50 PM #319446peterbParticipantPerhaps you could try running an ad on Craigslist saying what you’re looking for and how much you’re willing to spend? See what kind of responses you get. No reason to be passive here when the data is so important to your analysis. Search for other ways as well, like property management companies, etc….
I think you may discover an interesting trend as well as pick-up some data that’s not easily attainable. I’ve often wanted to see a correlation of rental prices for a given unemployment level. Or occupancy rates of residential units and homes correlated to rental price trends. A study well worth making these days since so many are utilizing the “rent vs. buy” calculation as their logic for purchasing right now.December 22, 2008 at 3:50 PM #319465peterbParticipantPerhaps you could try running an ad on Craigslist saying what you’re looking for and how much you’re willing to spend? See what kind of responses you get. No reason to be passive here when the data is so important to your analysis. Search for other ways as well, like property management companies, etc….
I think you may discover an interesting trend as well as pick-up some data that’s not easily attainable. I’ve often wanted to see a correlation of rental prices for a given unemployment level. Or occupancy rates of residential units and homes correlated to rental price trends. A study well worth making these days since so many are utilizing the “rent vs. buy” calculation as their logic for purchasing right now. -
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