Are these good deals for duplexes or a house?

Question

House:

3 bedroom
2 bath
new appliances & carpet
$680 a month

Duplex:

3 bedroom
2 bath
2 car garage
new everything (never been lived in)
$750 a month

Thanks to answers.

Also, this is renting, not buying... in a town outside a large city.

Answer 1

The question are they good deals is totally relative to the rest of the market in which you live. For example prices and rates here in SC are vastly different than they are in, say, Connecticut. However, I would say those are good deals. Make sure it's enough square footage for you and whoever else will be living with you. You might get discounts for paying a few months in advance.

To help you out, if you're not ready to buy yet, make SURE that:
- you're renting from a company, not just a person.
- they give you receipts for all payments and that you pay by check
- You can always have the rental contract looked at by an attorney of sorts to make sure there's not anything weird in there.

Also, you may want to look at "rent to own" or "lease purchase" properties, as you won't be committed to buying the property however if you decide down the road you want to buy it, your monthly payments will actually have gone towards something.

Most important thing is that you're happy with the location and the property where you're living. It will, afterall, whether you're buying or renting, be your home.

Sorry I get excited about this stuff.

Answer 2

Kind of strange. You have a house without a garage?
And a duplex that is offering a 2 car garage.
Well in my opinion if the duplex has real good sq. ft. or similar to the home for rent my option would be for the duplex with the garage. Here is why. A garaged car/truck will save you on your insurance. Call your insurance agent and see what the savings will be. Could be enough to make up the difference between the two. Also this all is in consideration of nice areas of both.

Answer 3

Those are OUTSTANDING prices! However, it is always best to own instead of rent. Do you have a family, kids? You should definitely consider investing in a home of your own instead of paying someone else's mortgage....