How can I rationalize a 500 $/ Month maintenance fees on a luxury apartment compared to a house of same value?
One rule of thumb is that a house is worth 200 times the monthly rent. Since you have a $500 monthy fee in your apartment, this is equivalent to a house that costs 100,000 more but without the fee (100,000 = 500*200).
Another way of stating this is that you could afford to buy a house that costs 100,000 more than the purchase price of your apartment/condo, provided teh more expensive house didn’t have any fees of this type.
dn
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One rule of thumb is that a house is worth 200 times the monthly rent. Since you have a $500 monthy fee in your apartment, this is equivalent to a house that costs 100,000 more but without the fee (100,000 = 500*200).
Another way of stating this is that you could afford to buy a house that costs 100,000 more than the purchase price of your apartment/condo, provided teh more expensive house didn’t have any fees of this type.
References :
i don’t know about ratinilizing but $500 mo. rent or housepayent is good these days, i reckon. you know, if it has rooms enough for grandma and every body else. we have added som nay rooms to our old house i don’t even know anymore. i am gone trucking — he he he!
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You can’t rationalize a luxury apt…..buy a house and take advantage of the tax break. Quit trying to be Bud Fox from Wall Street. Tell Daryl Hannah to go home and do the sensible thing..BUY A HOUSE!
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