<prompt> Human: Im trying to move to Long Island, like Riverhead area. Its practically impossible to find rent below 1,000 a month. But Ive been playing with the numbers, and I realized that maybe buying an actual house could be cheaper on a monthly basis.Heres what I figure: 10,000 to 15,000 is as much as I can afford for a down payment. If a typical down payment is 20, then I can look in the 50K to 75K range. My mortgage payments would be maybe 200 a month. I know there are other costs like property tax, maintenance, utilities, etc. but after the down payment it seems way cheaper than renting long term.Am I missing something? Is this too good to be true? Also, what are pros and cons of buying versus renting?Assistant: If you are finding houses to buy for 50-75k in an area where apartments are renting for 1k per month, theres something wrong with those houses. Otherwise, landlords would have bought them up to turn into rentals. You also have to consider the other costs of homeownership - maintenance, taxes, HOA fees, utilities that are included in rent, as well as how often you want to move and the cost of buyingselling real estate before you can decide if renting is cheaper than owning.Human: If you are finding houses to buy for 50-75k in an area where apartments are renting for 1k per month, theres something wrong with those houses.Thats what Im wondering. Im looking on Zillow and they have dozens of properties for sale under 75K. However when I look for rent under 1,000, there are only 7 results...  <response>: Post a link to one of the houses. I checked an actual realtor site, and the only things under 90k were old trailer homes on rented lots. So maybe you are misunderstanding what you see on Zillow, as not all houses on there are actually for sale. 