Re: rent rates these days
Rent here for a one bedroom apartment goes for about 1200 per/month. The cheapest mortgage I know so far of anyone I know personally who is paying off their home is 2,800 per month for a small 2bed 1 bath home for a 30 year fixed loan. I know some people with larger homes paying about the same that but on an interest only loan with no plans to sell it in the near future because they can not afford to upgrade the home to increase the value to resell. I am not sure what is better, to rent a more expensive apartmet so more than one bedroom or get a home on an interest only loan with the intention to never pay it off?
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