There are four two bedroom plus den units closed in the last 6 months at the 195 N Harbor Dr, the Parkshore. The price is ranging between $475K and $485K, they are all on the mid level to high floor. The inside is similar, some units has granite counter tops and some units have wood floor, some has a new vanity in the bathrooms, but none of the units have been totally configured. Our unit is similar to these units, we bought it in 2007 for $527K. So that means the price has dropped $52K in the last three years. However, if we take rent into consideration, we would need to pay $2,400 min a month to rent such a unit, if we use 36 months to calculate which is $86,400. So the difference is $35K, that is the amount we have saved in the last three years, not to mention about the tax deductible of the interest rates.
Also, we would not know how would our money hold in the stock market, I am sure it would be worse than the 10% decrease in the last three years. These are all the benefits of owning a house other than renting one. But I thought about one thing to buy now is there are so many choices, so we could have more choices.
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