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Check my logic: Factoring in the cost of garage parking

Hey!

I am currently considering two homes in a large/densely populated city. Home #1 is considerably cheaper but does not have a garage. It can be tough finding street parking so I may have to pay monthly in a local garage which costs 280$/mo. Home #2 is about 100K more expensive, but is in a much "nicer" part of town and also has an attached garage.

If you work out the math, 280$ monthly works out to a 30 year mortgage 100.8K (280 x 12 x 30). So not having to pay for parking can help me afford a home 100K more expensive. I'm leaning toward going for Home #2.

Is my logic flawed??? Your thoughts/criticisms would be appreciated.

​

Thanks!

submitted by /u/idiotwithagum
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source https://www.reddit.com/r/RealEstate/comments/db54tq/check_my_logic_factoring_in_the_cost_of_garage/
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