Quote:
Originally Posted by RunD1987
Rental place is too small
It is a aparment building too thats a bit old and outdated
Want to upgrade to a 2bdrm
There is a 2bdrm with utilities included but not tired of this place.
Hoping to move to a place where it be larger, less noisy, and easier for guest to stay over.
|
If your goal is to be a homeowner, you should sacrifice now to reach that goal.
And I'm sorry to bring up old stuff, but it wasn't that long ago that you two were living paycheck to paycheck. If that hasn't been resolved, you should definitely keep your rent as low as possible until it is. Don't get a two bedroom just to have a guest room. Those guests aren't going to help pay your rent or help you have a healthy cash flow.
Stay where you are or get an apartment that is equal or cheaper than what you're paying now, and build up your money and credit score. That's what you're going to have to do to be able to buy your own place.
Quote:
Originally Posted by AlaskaErik
If condos aren't out of reach, a starter SFH shouldn't be either. Since the OP didn't provide geographical area data, he will just get generic information.
|
While I do agree with the other poster that this is dependent on the local market, I do think it could be true in OP's location. A quick search tells me that he could buy a condo/townhome for about $100k but what should be taken into consideration in addition to the PITI payment is the $281 monthly HOA fee. He may be able to buy a starter SFH (without a HOA fee), and have roughly the same monthly payment. But SFHs come with their own set of expenses and considerations that are not necessarily needed for condos/townhomes - lawn care equipment, snow removal (OP is in CT), etc. Depending upon one's lifestyle and desire for convenience, condo versus SFH could be a wash.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
