We were able to stay under $2000 because we were lucky enough to put 20% down and avoid PMI. We are HCOL area so we are lucky. I cannot encourage prospective young buyers enough to look at a two family home as a starter house. I really allowed us so much more opportunity wise even 3 short years later since we rented one unit for the entire cost of our mortgage for 3 years and saved a ton! Land lording is really not that hard!
We pay $1360 for our 3bd, 2bth apt. We don't really have more room than we had before and our rent just keeps increasing for an apt that is legitimately broken down.
@subliminalrabbit I hear you! We are looking for 2 bedroom apts now in Sydney. We can't find anything for less than 2400 and that aren't even that nice. Before that I lived in jersey city right outside of NYC and paid. 1300 for a studio. I love the city life but can't afford it. It's depressing me
One more thing...i would love to know where you all live to figure out cost of living etc. I assume Canada is more expensive than the USA ! Am I right!?
One more thing...i would love to know where you all live to figure out cost of living etc. I assume Canada is more expensive than the USA ! Am I right!?
It totally depends where you are in each country. There are high cost of living and low cost of living areas in both. I think NYC and LA are more expensive than the most expensive cities in Canada, but average income might be higher in those areas.
The home we own, mortgage is around 1200. We rent it out for 2500+ We also pay 2500+ on the condo we rent, so the rent we pull in from our house covers that and in the end we are only out our mortgage.
Eta: forgot, on top of all that we pay around 650 for the basement apt we are renting from my sister for the summer. We are all over the range! So if you're keeping score, that's one mortgage out, one rent payment in, and two rent payments out right now.
In Alberta, Canada we pay about $2600. That is not necessarily the norm since we bought a much bigger house than we need and are now on an acreage by the river. Our previous house only cost us about $1600. I think for our area somewhere in between would be close to average.
SS: My condo (which I don't live in anymore but still own) is between 700-750. But our house, which my husband bought, is around 1,300. I voted for the house since that's where we live.
Re: Clicky Poll - How much is your housing payment each month?
Married to K on 1/14/2012
Daughter P born on 6/14/2013
Baby #2 due on 5/16/15
Our rent where we currently live just bumped up to $1495!
I HATE renting!
my read shelf:
It totally depends where you are in each country. There are high cost of living and low cost of living areas in both. I think NYC and LA are more expensive than the most expensive cities in Canada, but average income might be higher in those areas.
Eta: forgot, on top of all that we pay around 650 for the basement apt we are renting from my sister for the summer. We are all over the range! So if you're keeping score, that's one mortgage out, one rent payment in, and two rent payments out right now.
DS1 2-26-07
#4 Due May 2015
IT'S A BOY