Rent or Buy in Waltham MA - You be the Judge
This week we are highlighting Waltham MA in our rent versus buy breakdown.
Whether you rent or buy a home does depend in large part on how long you anticipate staying in one area. So, if you think you will be moving in less than a few years, it may make sense to rent. Otherwise, this rent versus buy analysis for Waltham may help you decide.
The Waltham real estate rental market shows 1-2 bedroom apartments coming in at $1,400 and higher. Let’s work with this new Waltham rental on Chestnut Street: 2 bedroom apt., 960 sf, listed for $1,700/month. To rent, you would need $5,100 for the first, last and security or $6,800for first, last, security and fee.
For Rent: Chestnut Street, Waltham Rental
For Sale: 36 Whitman Road, Waltham
Multiple Listing Service for Waltham MA shows this active condo on Whitman Road: 2 bedrooms, 1 full bath, 726 square feet, listed for $214,000. A 5% down payment would be $10,700 with a mortgage of $203,300, based on a 4% interest rate, condo fee (includes heat and hot water) and real estate taxes the monthly cost would be $1,439.59.
Waltham Rental: $1,700 / month versus Waltham Buy: $1,439 / month...
Our advice? Look at your own situation, investigate the numbers and understand which alternative is right for you. If you'd like to have a conversation about this topic Contact Us, we'd love to hear from you and answer any of your questions.
Search for recent Waltham MA closings: Avenue 3 Sold Properties Search
For a complete list of all the current/active listings in Waltham MA : Avenue3PropertySearch
and here are the pending sales for Waltham and all the other communities we track weekly...