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[quote=Anonymous][quote=Anonymous]Thanks for the input. We're probably going to become landlords one way or another (renting our basement or keeping the condo and renting it). It's not that I have some great urge to be a landlord, but we'd make $500+ a month off the condo after mortgage, fees, and bills, and as previously stated the basement would provide income to offset the mortgage on a bigger house. If we sold our condo and ditched the basement rental idea, we could probably up our budget to $600k, but I don't think that's going to get us much of anything on the Hill, so our only way to buy on the Hill seems to be the basement rental idea. [/quote] Don't forget about taxes on your rental income when you do your calculations.[/quote]
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