I know people always say that when you own a home you are spending $ on these whereas renting you arent but insurance and taxes are priced into your rent. You may be not paying them directly but you are still paying for them ..

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Posted by Catman88

Baton Rouge, LA

Member since Dec 2004

49125 posts

Posted on 3/26/10 at 9:10 am to lsugradman

I paid 945 for a 1 br 600 sq foot apartment before I moved out. My mortgage is 100 more than that. When I moved in it was 820 a month too so it went up 125 a month in 1.5 years there. Not to mention I didnt get any of the 1800 dollars it cost me to move in back because i had a dog.

What apartment can you rent and have insurance included? Last I checked you had to get renters insurance to cover your stuff. Thats included in homeowners.

Im not going to even get into the total BS rules and managment. Want your own parking spot? that was an extra 50 a month. want a garage? 150 a month! Want a view of the lake? Thats 75 more a month.

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Posted by AcadianDisciple

South LA.

Member since Nov 2009

275 posts

Posted on 3/26/10 at 9:13 am to lsugradman

The issue I'm having is not only paying monthly PMI around $112,which I can live with. The bank is saying they don't offer PMI any longer. They do however go through FHA, which requires 1.75% of the home purchase to be tacked on to your loan amount as an upfront premium. In my case, that a substancial amount I wasn't planning on. I'm calling around this morning to see if this is the case with all banks or just mine; as luck would have it. Thanks for the insight, I can wait until I have 20% to put down, but rates may be up to 7 -8 % by then.

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