So there is a really cute bungalow for rent on the next street over right now. I called the number yesterday to ask about price, number of rooms, etc....I didn't hold out much hope that they would be asking a reasonable rent because where I live, rent for houses is insane.
From what I've seen, $1500 a month is about the lowest you can get for something big enough for a family.
So they call me back and tell me it's a 3-bedroom, 2-bathroom house (one of the bedrooms is in the basement) and that they are currently renovating. They want $1700 a month plus utilities!!!! I can get a $280,000 mortgage for what they are asking. Why would I pay that in rent?
Erik pointed out that we could rent two 2-bedroom apartments in our building for what they are asking. I pointed out that we could rent the one-bedroom downstairs instead knock a hole through the floor, put in a spiral staircase and presto, we now have a basement.