Affordable austin condos at verandas
BUY VS RENT PAYMENTS
Potential Monthly Payment if buying (Including HOA)? $1,300-1,500
- Current Average rent in zip code 78751 for 2 bed & 2 bath condo? $2,200
If you owned this condo you could charge rent to a roommate for around $1,000-1,200 a month. That would make your monthly payment around $100-500 a month.
You would also be building equity in your home. When you want to sell (I’d suggest not selling for at least 2 years for tax reasons) you will be receiving much of this money back and depending on the market you will make a little extra from appreciation.
IS THIS OBTAINABLE TO YOU?
- Do you have a salary job? OR…Have you been self employed for 2 years or longer and can show income?
- Do you have low or no debt? (Monthly car payments, credit cards, student loans)
- Do you have cash? Or family who will help you invest? (At least 3% of the sales price of the condo for the down payment and $3-5K for closing costs)
If you answered yes to most of these questions you just may be in luck! You’ll need to contact a lender to find out for sure.