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Old Today, 12:31 AM
 
Location: Wasilla, AK
6,502 posts, read 3,569,400 times
Reputation: 13469

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Quote:
Originally Posted by blueherons View Post
And this information is specific to your area.

Is the OP in your area?

In many markets SFH are out of reach for many people or there just aren't a lot available.

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.
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Old Today, 08:00 AM
 
Location: Northern Virginia
4,874 posts, read 5,076,282 times
Reputation: 11746
Quote:
Originally Posted by RunD1987 View Post
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It is a aparment building too thats a bit old and outdated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 View Post
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.

Last edited by HokieFan; Today at 08:16 AM..
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