they are currently renting a three-bedroom apartment for $1,750 per month. Just based on cost of renting vs. cost of buying with the above ARM, which would be cheaper and by how much per month?

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06-01-2024
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they are currently renting a three-bedroom apartment for $1,750 per month. Just based on cost of renting vs. cost of buying with the above ARM, which would be cheaper and by how much per month?

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pratikshyadauliya73 pratikshyadauliya73 · Answer 1 · 2024-01-06T04:34:07+01:00

Answer:

To determine whether renting or buying is cheaper, we need more information. Specifically, we would need details about the cost of purchasing the property, down payment, loan terms, interest rates, property taxes, homeowners insurance, and maintenance costs.

If you provide these details or assumptions about them, I can help you compare the monthly costs of renting and buying with the adjustable-rate mortgage (ARM) you mentioned.