Decisions, Decisions, Decisions

First let me preface this by saying I had a large Skinnygirl Margarita and am on my second glass of wine!
Since we decided to stay here until spring we are looking for rentals.  We are having trouble finding something we like, reasonably priced, pet friendly, 1000+ sq ft and under $1000/month rent.  I found a townhome community that I fell in love with and while searching to see if anything was for rent, I stumbled across a couple we liked.  I decided to also search the sales because there were 3 for sale signs in the community.
It turns out, that 2 of the units we were looking at to rent are also being offered for sale.   I don’t know what the HOA/Condo fees are, but the sales price alone means that if we bought it, we would be paying less than we would if we rented the same unit!  For example, one unit is asking $700/month rent or $64,900 to buy.  Based on a 30 year fixed mortgage, our payments INCLUDING insurance, taxes, etc… would run about $400 a month.  HELLO?  See why I am perplexed. 

The unit is in a nice location with $400k + homes in the same area.  They are located right by a hospital, with easy access to 2 major highways.  I think we would not even have trouble renting it out when we move.  I just hate wasting money on rent in a 300+ unit complex when I could own something in a 100 unit community for less per month.  I may need to stalk my realtor at her pool tomorrow with a bottle of wine!

Anyone have any advice????


One thought on “Decisions, Decisions, Decisions”

  1. From the sounds of it, it'd be smarter to buy it and rent it out after you guys move to Richmond. Or you could always come up here for a bit, lol.


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