I'm paying $1100 a month on rent for a two bedroom? Is that to much considering we have the downstair app.?

Question

I'm paying $1100 a month on rent for a two bedroom? Is that to much considering we have the downstair app.?

Answer 1

Two bedroom what?

Depends on location.

In Tempe Arizona I could save you $100.00 as an example.

Answer 2

Paying rent of any amount, considering what you have in square footage, applicances, up or downstairs, IS TOO MUCH.  You are helping someonelse pay for their property.  Your rental home is their "Investment Property" and you are helping them pay for it.  You're their partner without any benefits.  They may be telling their Lender, that property is their "Main Home" and their living in it.  LIE, LIE, but they may get a better rate of interest, etc.  You will not get the tax benefit (i.e. 1098 IRS FORM) to deduct the interest off of your taxes.  THIS IS THE TIME TO BUY YOUR HOME, not perhaps your DREAM HOME but still being your own partner and receiving tax benefits.  I KNOW, I KNOW, I KNOW, your going to say, "I don't know if I will be able to pay my NOTE.  Well, you didn't know you could pay your Landlord's NOTE, but you did.  DO IT FOR YOURSELF.  Step up to your dream home. Get your fico scores in tack, if you're self employed, get W-2 money, combine income with spouse, friend, family, approach someone in foreclosure that may want to make a deal with you.  Please be sensitive to their problem.  Maybe they will let you bring the house payment current or sign it over to you, if you give them some money (i.e. $1000) and then you refinance, whatever.  Stay away from fancy mancy loans, go for a 30 year fixed.  Look for 1st time home buyers program. Always seek professionals (i.e real estate broker and agent, attorney, tax professional).

YOU ARE PAYING TOO MUCH FOR SOMEBODYELSE.

PAY TOO MUCH FOR YOURSELF.

REMEMBER: The Lord is my shepard and I shall not want.  If you're serving God, remind him, he can't lie and that you demand your needs.Yea, you need a house.  

Answer 3

Depends on where you live.  If you're in California, that's a deal.  If you're in the midwest, you're getting screwed.

I live in PA and I own a two bed, two bath condo and my mortgage payment is under $600 per month.  Typically two bedrooms rent out for $600-$800 here.

Answer 4

I wouldn't say that $1100 is an overly expensive price.  Depending on the location prices can be a lot more expensive.  Take for example, NYC where the average for a two bedroom apartment is around $5000 per month!  I am living in a townhouse in Edison, NJ which is around 50 mins away from the city and it has 3 bedrooms, 2.5 baths, and 3 floors for $1775 a month.  And considering that you are living on the bottom it should be a bit more cheaper as well.  I'd say the price you are paying is just around the mean.  Hope this helped!  

Answer 5

.    It is OK.   SOmething attracted you to this rental in the first place.  It is convenient to work or friends.  That doesn't change.  Pay the money.

Answer 6

I guess it depends on where you live.  My husband and I rent a single-family home in a decent neighborhood.  It's three bedroom, two bath with a two car garage and we pay $795/mo, but the town we live in has a fairly low cost of living compared to the rest of the U.S.