(Closed) Mortgage payment vs what your rent used to be

posted 6 years ago in Home
Post # 3
Member
379 posts
Helper bee
  • Wedding: September 2012

$875 for a nice yet small studio in a cool old building in a good part of town.

Now we pay $1400 on a 15 yr mortgage not including taxes or insurance for a 3 bed two bath house.  1950 sq ft with a deck and fenced in yard

Post # 4
Member
600 posts
Busy bee
  • Wedding: May 2012

We had an 800sqft 2BR 1BA that we paid $775 for

Now our mortgage is $900, but with insurance and escrow stuff it’s $1315 … But it’s an 1800sqft 3BR 2Ba with 2 living rooms and a bigggggggg backyard

Post # 5
Member
376 posts
Helper bee
  • Wedding: September 2012

Our old apt 

800 sqft 

2 bed 1 bath 

715 a month 

Our House

1600 sqft 

3 bed 2 bath plus den 

795 with insurance and tax included 

may I add our huge corner lot plenty of space for my flowers 

Post # 6
Member
799 posts
Busy bee
  • Wedding: June 2011

Old apartment

Main level of house, 900 sq feet, 2 bed, 1 bath

$800/month (and this was in Toronto!! But we rented from friends and they gave us a huge deal)

 

Current/First home

1470 sq feet, detached home, single garage

$704/month (variable mortgage) but we pay $1200 month (as if we got a fixed) Proerty taxes are $326/month, insurance is rolled in with my auto insurance and I don’t even know how much :p

Post # 7
Member
2792 posts
Sugar bee
  • Wedding: May 2011

So jealous of wherever you guys all live! Here in Boston you’d be hard pressed to find anything cheaper than $1200 for RENT (and it’s probably a very tiny apartment!)

Mortgages will run anywhere in the $2000-$2500 a month range for a smaller standard 2 bed / 2 bath house. Outrageous for anything bigger than that!

And this is why Darling Husband and I are living in our parent’s rent-free in-law apartment! 🙁

Post # 8
Member
217 posts
Helper bee
  • Wedding: June 2013

Apartment living in now:

-650 per month, about 700 sf, 2 bed, 1 bath

 

House we are closing on at the end of the month:

-950 per month (including taxes, home insurance), about 1,300 sf, excluding full basement, 3 bed, 2 bath.  

 

LOVE IT!  Is move in ready, but since I am an interior designer, I will be changing a ton, but all on a budget! SO EXCITED

Post # 9
Member
359 posts
Helper bee
  • Wedding: December 2012

SO jealous of the mortgage some of you pay! I’m just over $2000, not including property tax. Its ok, I still love you, Vancouver! lol

Never rented.

Post # 10
Member
10288 posts
Sugar Beekeeper
  • Wedding: October 2011

Wow, our rent is $1300 a month. I’d love to live where some of you do! We’re hoping to buy within the next year and will be looking at around $1500-$1700 for a mortgage payment. Currently we have a 2 bed/2 bath condo with attached garage and will be buying atleast a 3 bed/2 bath, 1500+ sq ft single family home.

Post # 11
Member
2190 posts
Buzzing bee
  • Wedding: June 2011

For  2 bedroom 2 bath appartment with view and 800 sqft we paid $800 a month

Now our 3 bedroom 2 bath, 1500 sqft house on a half acre is $1600 a month. $275 of our mortgage goes to PMI though. 

Post # 12
Member
2416 posts
Buzzing bee
  • Wedding: September 2012

@MrsMaine:  I was just about to say the same thing!!! We live in a TINY apartment and we pay $1400/month (likely going up to $1500 in Sept) plus we spend $125.00 on a rented parking spot.

We don’t have laundry in the unit, no central air but we DO have a dishwasher. Score! We have a living room, kitchen, bathroom, and bedroom. I would say maybe 450-500sq ft?

We also don’t have mice. Which is like, huge, for Boston with all of our old buildings.

We plan to upgrade and with the current rental market will need to spend at least about $2,000 to stay in Boston for a place with all of our “wishlist” included.

You would be hard pressed to find a home within an hour of Boston for less than $350,000 that is somewhat updated.

Post # 13
Member
2065 posts
Buzzing bee
  • Wedding: December 2011

When I lived alone in a 1-bedroom apt, 630 sq. ft: $760/month

When I rented a house with a friend, 3bed,2 bath, not sure of sq. ft: $1360/month

Our house: $1175/month (4bed, 2bath) with a 6.8% interest rate, husband had less than awesome credit when he bought the house in 2008. We’re closing on the refinance at the end of this month, added me and my good credit to the mortgage, and knocked the interest rate down to 4.2%! Our new payment will be $950 – you have NO IDEA how excited I am. 

Post # 14
Member
4046 posts
Honey bee
  • Wedding: November 1999

1 bed, 1 bath, 700 sq ft, no covered parking, $779/month (but free heat!)

now, 4 bedroom, 2.5 bath, 2 car garage, 2200 sq ft plus yard, about $1500/month

Post # 16
Member
180 posts
Blushing bee
  • Wedding: August 2010

@Miss Orchard:  I agree. We live in the Boston area and just moved from a rental to a house.

Apartment (rental):

1000 sf, 2 bed 1 bath = $2150

House (own):

2500 sf, 4 bed 1.5 bath = $3400 (including real estate taxes which are ~$650/mo)

 

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