Ya know what I dont understand?

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System 8 years 10 months ago Posts: 74809	I dont understand why apartments are like $700/mo but if you buy a house it only would cost like $460. As a college kid I dunno what to do.. rent or buy?

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System
8 years 10 months ago
Posts: 74809
How is buying a house only $460/mo?
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System
8 years 10 months ago
Posts: 74809
Well they have this calculator.. the morgage would only be like $460 it said. Maybe its wrong..
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System
8 years 10 months ago
Posts: 74809
How much is the house?
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System
8 years 10 months ago
Posts: 74809
like $100,000.
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System 8 years 10 months ago Posts: 74809	$100,000 is not a lot for a house. If that's how much a house costs, I'm sure you can find an apartment that is cheaper than $700/mo without the mortgage commitment.

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Byrd man 8 years 10 months ago Posts: 369	If you can make house payments of only 400 a month with such a young credit history, than there's some fine print your not reading. Don't forget down payment, property tax, and other applicable fees. Look at the bulletin boards around campus, you can usually spot places for rent where you room up with others which can save you a lot of money. Look really hard at what you're getting before you decide.

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System 8 years 10 months ago Posts: 74809	Well ever hear of Naperville, Illinois? The houses in Naperville are crazy expensive... like 3 million. The apartments are around $700. I wanna get a house in a few towns over in Aurora. Nice enough place and its WAY cheaper than Naperville. Plus I have had the nightmare roommate freshman year so I dont want to be living with people who I dont really know that well.

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System
8 years 10 months ago
Posts: 74809
At $700 what kind of apartment is it?
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System 8 years 10 months ago Posts: 74809	Well a studio or a 1 bedroom. Depends on where you look of course but those are the basic kinds of apartment that $700 will get you.

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System 8 years 10 months ago Posts: 74809	A 1 bedroom apartment for $700 is pretty good I think. I pay around that for my apartment and its all inclusive.

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System 8 years 10 months ago Posts: 74809	yeah but the only thats inculded in the $700 is trash and maybe pest control.. no real utils like gas, elec, water..

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System 8 years 10 months ago Posts: 74809	Well, in my opinion, buying a house is a huge financial commitment especially for a student. I don't feel like you really would benefit if you purchased a house unless you plan on fixing the house up (which costs more $$$) and reselling it, or if you plan on living and working there in the future. The only way I can see a student buying a house is if mommy and daddy help finance it.

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System 8 years 10 months ago Posts: 74809	$700 for an apartment? I wish...it's more like $1,100 around here. Just a half-decent condo would cost you 200k too. 400k would get you a house in a bad area. Sigh I'll be moving soon enough.

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System
8 years 10 months ago
Posts: 74809
yeah but still.. its kinda crazy paying $700 just for an apartment with no utilities.
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System
8 years 10 months ago
Posts: 74809
Plus either way I have to drive..
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System 8 years 10 months ago Posts: 74809	Mathematika wrote: The only way I can see a student buying a house is if mommy and daddy help finance it. That's usually the case, even for non-students (not that it's a bad thing).

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System 8 years 10 months ago Posts: 74809	You know, most students do have roommates. That helps alleviate some of the financial burden. I've had roommates, good and bad, but I'm getting by.

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System 8 years 10 months ago Posts: 74809	Yeah I had a roommate. she was crazy. She would leave the music playing all night. I asked her numerous time to turn it off and she wouldnt so I implied a little revenge of staying out all night and coming in at 6am since I knew she was a light sleeper. Her side of the room was always a mess and I would find her hair all over the place. (She had brittle hair and it boke off easily). It was horrible. I NEVER want to go though that again. I realize that some roommates may be good but when a person lives with you they get the feeling that they can always be part of your busniess. She used to even look over my shoulder when I was typing thing to my mom or boyfriend on my laptop. It pissed me off.

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Byrd man
8 years 10 months ago
Posts: 369
Why not rent an apartment a few towns over...
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System 8 years 10 months ago Posts: 74809	How is buying a house only $460/mo?

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System 8 years 10 months ago Posts: 74809	Well they have this calculator.. the morgage would only be like $460 it said. Maybe its wrong..

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System 8 years 10 months ago Posts: 74809	How much is the house?

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System 8 years 10 months ago Posts: 74809	like $100,000.

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System 8 years 10 months ago Posts: 74809	At $700 what kind of apartment is it?

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System 8 years 10 months ago Posts: 74809	yeah but still.. its kinda crazy paying $700 just for an apartment with no utilities.

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System 8 years 10 months ago Posts: 74809	Plus either way I have to drive..

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Byrd man 8 years 10 months ago Posts: 369	Why not rent an apartment a few towns over...

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