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Forum
-> Household Management
-> Finances
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amother
OP
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 Tue, Aug 03 2021, 8:59 am
| amother [ Lime ] wrote: | | Is it an option to buy a house in Toms River and rent it out until you are ready to move in? That way you won’t have the hassle of reselling or lose money from it. You also won’t feel like your throwing away money on rent because you will have someone renting out your property. |
I don’t know if people would want to spend so much to rent a house. The houses we are looking at in Toms River are even more expensive than the Lakewood ones and there’s no way we can cover two mortgages
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amother
Ivory
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Tue, Aug 03 2021, 9:18 am
| amother [ OP ] wrote: | | I don’t know if people would want to spend so much to rent a house. The houses we are looking at in Toms River are even more expensive than the Lakewood ones and there’s no way we can cover two mortgages |
People pay 4-5 on house rentals in toms river now. Many people need a place while they are looking to buy or doing construction. There aren't that many available to rent and there are people looking. But it's not a guarantee that you will be able to rent it.
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amother
Lime
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Tue, Aug 03 2021, 9:20 am
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You won’t be paying two mortgages. Your tenant will hopefully be covering all of it plus a little extra depending on how much you put down. Then, you will be paying rent wherever you live in Lakewood.
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amother
Seafoam
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Tue, Aug 03 2021, 9:25 am
| amother [ OP ] wrote: | Would you say the same if we would make a decision to stay there for 4 years?
Also, what do you think regarding the market? Do you think that the bubble will burst? |
Anything is possible, but no one can answer that for you. You have to consider the risk in your decision.
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chocolatecake
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Tue, Aug 03 2021, 10:17 am
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Real Estate is definitely high now but mortgage rates are very low.
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