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Transfering money from UK to USA to buy a house

Transfering money from UK to USA to buy a house

Old May 11th 2012, 4:27 am
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Default Re: Transfering money from UK to USA to buy a house

Originally Posted by yorkshire_geek
Just so long as they don't decrease, its still worthwhile, here in California, houses valued at around $550K are renting out at $2900/month, to buy you can get that sort of total monthly cost (mortgage, property tax, minus interest deductable) on a property bought over 15 years, ie. after 3 years you've bought just under 1/5th of the property. If prices increase then its good, its only if they decrease does it eat into the equity you've been slowly accumulating.

It is very strange here in peninsula of Bay Area California. In UK, for someone to buy my UK house I rent out, the mortgage is higher than the rental rates, in California it seems to be the opposite.
Where on the Peninsula have you seen a house for $550k?
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