Buying Vs Renting In Queen Village

Buying Vs Renting In Queen Village

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Fun Fact: You can buy an affordable condo in the city for the same price, if not less, than renting.


True story.


Take for example this adorable condo in Queen Village located on Bainbridge, between 4th and 5th. This tree-lined street has ample street parking and is a short walk to many of the best shops and restaurants in town. (Jim’s Steaks, need we say more?) And it has easy access to public transportation and the highways.


With a 20% down, monthly mortgage payments are just under $1,500. Even with the minimum down payment of 3%, monthly payments are still well under $2,000. Which for an apartment or condo with hardwood floors, granite countertops, and private roof access, in Queen Village, is a great deal and right on par with the going rental rates in that neighborhood.


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Think about it: if you are paying $1,500 a month in rent, after three years you will have spent $54,000 and invested in nothing. You’re just out $54,000. For that same $1,500 a month in a mortgage payment, you will be investing in the future, building equity, and creating wealth. There's a light at the end of the monthly payment tunnel. Almost feels like a no-brainer, doesn’t it?


Hey medical residents, do you get a match in Philly? This place is walking distance to both Jefferson and Pennsylvania Hospital. And is a hop, skip, and a jump from public transportation to take you up to the Hospital of the University of Pennsylvania. Think about it? No roommates, a quiet place to crash between shifts, and an investment property for when you finally finish that medical degree. 


Whatever your situation--whether you just got your medical residency assignment, starting a new life with the love of your life, or are just tired of throwing away money on rent, the agents at the Reilly Leggette Group want to help you find the right space for you and make sure it’s a savvy move (and let’s be honest, sometimes it takes a village to get through med school). 


You can learn more about this fabulous property here.


Are you looking to sell? See what your home is worth here. Looking to buy? Start your home search here.




Brooke Willmes Headshot
Author:
Phone: 267-980-5858
Dated: May 16th 2016
Views: 889
About Brooke: I have 14 years’ experience in residential and commercial properties throughout the Philadelphia a...

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