I'm 25 years old, college grad 2 years ago, and still live at home with the parents in the suburbs of St. Louis Missouri.
Right now I'm grossing approx $2900 per month and taking home approx $2200.
I have no debt and $40,000 in cash.
Financially, which is the better option ?
1. buying a small fix-it-up house in the 130,000 range that I would not particularly be happy in...and then hopefully sell it off in 5 years. Having no handiman or real estate experience, I would make the necisary repars hoping to up the value and then let the real estate agent sell it. The downfall would be giving up the fees to the agent, thus washing out potential profit on appreciation.
#2. I can rent an apartment (which is also not my favorite option because I don't like confined space), but the lower rent per month would allow me to save additional cash for a better house in a few years.
Financially speaking, which sounds like the better choice in the long term???
2007-11-24
02:59:50
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9 answers
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asked by
curtism1234
5
in
Renting & Real Estate