After school I'm going to be living at home for 2 1/2 years to 3 years before moving out and plan to save about $30,000 a year dor 3 years..is $85,000 to $90,000 enough to have in your savings before moving out...should I rent or buy?
2007-08-26 17:26:08 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You'll have $30 K after taxes , vehicle expenses , work wardrobe and giving the parents something for food , utilities etc ?
No student loans ?
Wow , you must be going to become an engineer !
Anyways , the $85 to $90 K will be excellent ,
But buying or renting is a financial decision .
If you will be in your new location longer than 5 years , the recommendation is to buy .
Less than 5 years , rent .
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2007-08-26 17:41:19 · answer #1 · answered by kate 7 · 0⤊ 0⤋
well it really depends on where you live and what your expectations are but dont rent buy as soon as possible. remember your first house doesnt mean its the one you will live in forever. i would put that towards a down payment. and if where you live houses are upwards of 500,000 maybe start out at a condo?
2007-08-26 17:36:12 · answer #2 · answered by Jenn 2 · 0⤊ 0⤋
Stop tripping and go to www.payucash.info
2007-08-26 17:38:55 · answer #3 · answered by Anonymous · 1⤊ 0⤋
i think you'll be ok with just $20,000.
2007-08-26 18:15:39 · answer #4 · answered by Steph 5 · 0⤊ 0⤋