S928
Contributor
User Power
Value/Post Ratio
18%
- Aug 7, 2007
- 161
- 29
It's been a few years since I've made a real estate purchase and I'm now getting the bug. After looking at real estate prices in northern California (Solano County), and seeing how much prices have dropped (up to 50%), I've been thinking about buying a home for investment purposes.
Price: 190k
3/2/2
1450 sq ft
Property tax $1900/yr
20% down
Rent $1600
The numbers don't add up when I factor in all the expenses (mortgage, prop tx, insurance, mgmt fees), but my costs would barely be covered if the home were rented. However, I'm sooooooo tempted to pull the trigger because I've always wanted to own a home in CA. Since prices have dropped so much, I feel that now is the time to buy. Better yet, I can see myself living in the home I would purchase. What to do? Follow my heart or my brain?
:huh2:
Price: 190k
3/2/2
1450 sq ft
Property tax $1900/yr
20% down
Rent $1600
The numbers don't add up when I factor in all the expenses (mortgage, prop tx, insurance, mgmt fees), but my costs would barely be covered if the home were rented. However, I'm sooooooo tempted to pull the trigger because I've always wanted to own a home in CA. Since prices have dropped so much, I feel that now is the time to buy. Better yet, I can see myself living in the home I would purchase. What to do? Follow my heart or my brain?
:huh2:
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