I am starting a job making $40,000, just graduated college. Credit score is 728. Monthly debt is about $165. Condos that I am looking at range from 75,000 to 95,000. My total expenses including the mortgage, taxes, insurarance and condo fees will be about 825 per month. The alternative would be to rent for about 700 a month.....what should I do???
2007-01-13 17:07:57 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Market is Tulsa Oklahoma, we typically do not see huge jumps in values such as in California, but we hardly EVER see declines in value either. It is more of a steady appreciation of 3-5% a year
2007-01-13 17:25:26 · update #1
I would say buy a house but I noticed you said you are starting a job . You might want to take time to see if you like your job before you commit to 20 or 30 years in one area. Another thing to consider is do you have the time to look for something to buy or do you need a place to live quickly? You know yourself well enough to make the right decision for yourself and your smart enough to ask for advice I think you will do alright.
2007-01-13 17:57:32 · answer #1 · answered by puzzled 5 · 0⤊ 0⤋
No matter what you need a place to live and you may as well take advantage of the tax savings by buying your own place. Real Estate overall does increase in value but since I don't know your market nor may I, even know it if it's not near me. But considering your income and what you would pay for rent compared to buying the choice is there for you I would recommend you buying.
2007-01-13 17:15:29 · answer #2 · answered by don't_leave_ur_equity 1 · 1⤊ 0⤋
Yes! It will be a place you can call your own. I bought one and love coming home from work or any place else. It's a wonderful feeling but with that are more responsibilities. There are water, gas, phone, and repairs. If anything breaks down you are responsible to repair or replace it. Have extra cash in an account just for the unexpected in owning a home.
But buy a home not a house there is a difference!
2007-01-13 17:17:45 · answer #3 · answered by church_lady_with_a_smile 2 · 1⤊ 1⤋
if it were me I would buy the house and the payments that you will be making will make the house would be yours someday. But when you rent you are just making the landlord rich.
2007-01-13 17:20:19 · answer #4 · answered by karen v 6 · 0⤊ 0⤋
Buy the house. Equity is a great thing.
2007-01-13 17:15:31 · answer #5 · answered by JR 4 · 0⤊ 1⤋
buy a house.
2007-01-13 17:15:19 · answer #6 · answered by prekinpdx 7 · 1⤊ 1⤋
go back to school you didnt learn a damn thing
2007-01-13 17:13:39 · answer #7 · answered by ill take it straight with no ice 3 · 0⤊ 3⤋