I will be graduating College in December. Right now my girlfriend and I are paying 1005/month in rent, yes I know, thats a lot.
I am graduating with a B.S. in Criminal Justice and I dont know where I will be working in the next year or so. We hate it that we spend so much on rent when we could own. Do you have any advice? I work full -time too which is why we could own.
2006-08-30 13:17:10 · 9 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
If you are going to be moving in less than 6 month, continue renting. The closing costs on buying and selling a home in 6 months will cost more than you will save.
2006-08-30 13:20:29 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If I was in your situation, I would look around your area and find a nice house that is contract to deed or rent to own. That way you will paying a monthly payment on a place that you will own for yourself in the future. I also hate the idea of paying rent out on a place that I will never own, its a waste of money honestly.
Have you also tried getting a loan for a place at a bank or finance center, probably right now the banks will loan you a low amount but it may be enough for a starter home that you and your girlfriend can call your own. Then as you both mature in your Career you can sell it and put the money into a better house. Good luck.
2006-08-30 20:23:00 · answer #2 · answered by ♥ Lips of Morphine ♥ 4 · 0⤊ 0⤋
Once you decide where you will be working once you graduate, it would be well to look into owning a home.Your mortgage might not be much more than what you are now paying for rent, and you would be building up equity. I agree with you that paying rent is just giving the money to someone else, the money which could well be helping you own your own home. Go for it!!!
Chow!!!
2006-08-30 20:27:02 · answer #3 · answered by No one 7 · 0⤊ 0⤋
first if you are going to try to own a house, I would probably just make a plan to invest in a house if you can as soon as your lease is up, but remember that all things will work out for the best and once college is finished and probably before college is finished you will find the perfect job in your criminal justice field! JUST TRUST! because every thing works out the way it is meant to!
Take the necessary steps toward your dreams and watch it all come together!
2006-08-30 20:24:06 · answer #4 · answered by Sensualbracelet 2 · 0⤊ 0⤋
Contact a real estate agent to guide you thru the home-buying process. There are special low-interest mortgages for first time home buyers. You could definitely be buying rather than renting...and it would be an investment instead of watching your money go to someone else every month
2006-08-30 20:33:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Owning is definatly the way to go...you will be able to build equity and hopefully make money on your home when you decide to sell. Just think of it as an investment. =) If you are not in a hurry to get out of your current place, take your time and find exactly what you want. Good luck!
2006-08-30 20:20:25 · answer #6 · answered by Anonymous · 0⤊ 0⤋
if you are not sure where you are going to be in the near future, why don't you just down-size and save some money for a while? that way, when the right job comes along, you will be ready for a move and/or an investment. congrads on your degree-i still have 3 more years!!!
2006-08-30 20:22:12 · answer #7 · answered by mom is a freak 3 · 0⤊ 0⤋
In Los Angeles, you could never find a mortgage for $1,005, not even something small in a bad neighborhood.
Get married before you buy property.
2006-08-30 20:29:36 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I'd stick it out until you graduate. Then buy a place where ever you have landed a great job.'
2006-08-30 20:23:21 · answer #9 · answered by Bluealt 7 · 0⤊ 0⤋