My fiance and I are paying $715 for rent on our apt. We are in St. Louis, MO. We have been in apartments for the past 2 years and dont want to keep wasting money on them.
We found a nicer condo that is way bigger than our apt and would be fine even if we had kids. It is everything we wanted in a house but an advantage of no large yard and outside repairs are covered by the condo complex owners.
The condo of course needs work like repainting the rooms, getting new bathroom cabinets and living room carpeting. I would take a guess and with insurance, mortgage and fees...we'd pay like $1200 to $1300 a month for it. Yes it is much more expensive than the apt....but it is bigger and it's in the location we want and everything. It has 3 bedrooms and 3 bathrooms.
We dont wanna rush into something we cant afford, but it is either now or next year to buy. I just see the higher payment, yet you get equity with a condo not an apt. Is it worth the extra money per month to own?