Quote:
Originally Posted by frenchsquared
I don't know why everyone would not want to rent. I have 8 rentals. Basically you get a free house. I would rent yours for a few years to make sure you are happy with her house. Then later you can sell them both and get your house so its not her house.
Rent $500 to $3000 a month... closing cost.... $1500.... how do you not get that back? Find a better bank to do your closing.
Or you pay rent of $1500 a month for a house for 5 years. 1500 * 12 * 5 = $90,000 how the hell is it not cheaper to buy?
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I don't know where you're closing for $1500, but here in NY, closing costs on a house or condo with a purchase price around $400K are north of $20K when all said and done. It seriously prohibits refinancing around here.