Something to consider

So, there are 2 condo units for sale in the apartment building that I live in.

My co-worker and I did some calculations, and if I purchased one of the units, my monthly mortgage payment would be $545. Compared to the $725 I’m paying in rent for the same place, that’s highway robbery! If you factor in strata fees and property tax, it would be $765. Which includes heat, hot water and parking. But that’s also using the asking price – those units have been listed for a while now – I’m sure the price would be negotiable. At least to the point where I’d be paying the same amount for the mortgage payment as I would for rent.

I’m not seriously considering it, but it’s definitely in the back of my mind.