Winnipesaukee Forum - View Single Post - Renting or buying property in the lakes region

IslandRadio · 04-15-2014, 06:53 AM

Welcome to the forum! I see you are a very new poster. So, have fun here!

Anyway, I took a quick look on LakesRegionRealEstate.com just to see what's out there.

Now, I didn't actually go and look at any physical houses, but I found a whole lot of single family, detached home listings (in Laconia) that could be had in the $150,000 price range. Condos were less. Mobile homes a LOT less, but I'd go with detached single family if you can swing it.

So, if you have 20% down, your mortgage payment will be under $600/month. Figure $250/month for taxes and something for homeowner's insurance, and you're probably at about the same level you're at now with rent, but you get the mortgage interest deduction and of course you actually own something!

Is the down payment an issue? It often is with first time buyers and I was no exception when I bought my first house. Put 10% down, and there was maybe $100 left in every bank account combined!

04-15-2014, 06:53 AM	#4
IslandRadio Senior Member Join Date: Sep 2009 Location: Mirror Lake - Full time resident Posts: 398 Thanks: 70 Thanked 156 Times in 61 Posts	Welcome to the forum! I see you are a very new poster. So, have fun here! Anyway, I took a quick look on LakesRegionRealEstate.com just to see what's out there. Now, I didn't actually go and look at any physical houses, but I found a whole lot of single family, detached home listings (in Laconia) that could be had in the $150,000 price range. Condos were less. Mobile homes a LOT less, but I'd go with detached single family if you can swing it. So, if you have 20% down, your mortgage payment will be under $600/month. Figure $250/month for taxes and something for homeowner's insurance, and you're probably at about the same level you're at now with rent, but you get the mortgage interest deduction and of course you actually own something! Is the down payment an issue? It often is with first time buyers and I was no exception when I bought my first house. Put 10% down, and there was maybe $100 left in every bank account combined!