LogFAQs > #979385737

[LFAQs-redacted-quote]


I wont take it personally, but I don't think its a poor financial decision, and hear me out from my perspective. The average 2 bedroom apartment where I live is 1500. Your waiting on a scummy landlord to do the maintenance, and most of the time you can't do fixes yourself, even if you can afford it, because you'll break your lease.

Yes 300K for a home is a lot while earning 50K. But your not earning 50K the entire time. You'll get promotions, raises, etc. That also doesn't account for a family, or roommates who can help subsidize the cost of living. Not to mention, as I said before we have the option here of a 30 year loan. So with a 4 bedroom home, I can rent out 2 of those rooms for market value of around 700/m and earn close to 17K a year just from that alone.

That's just how I look at it. Plus, at least here, when you reach into the 300K market your looking at homes built in the past 10 years, so there shouldn't be major maintenance to do. Plus there are options like re-evaluating the price of your home so you can get a loan to pay off the other loan, which apparently is a thing for some reason.