Buy a house for 1M or continue to rent it for 3K ?
My landlord wants to sell the home we are currently renting for a good offer. We have been currently renting it for 2 years and have an option to either extend the lease for another year or buy it (Price is redfin estimate). We are debating whether to buy or continue renting.
Location is good for our commutes and schools are excellent. Home was built 6 years ago and is in good condition. I'm thinking we can negotiate the price a little bit (upto 6%) by avoiding seller and buyer agent commissions.
Mortgage estimate is 3.6-4K per month including HOA and insurance with 20% down.
what would you do?#redmond