Hi guys. So I inherited 250k and before we were just getting by paycheck to paycheck, and currently we are dipping into this inheritance in order to get by since food stamps have stopped coming in. I'm 19 and live with my non-college educated immigrant mom, 17 yo brother and 13 yo sister. Our father is an alcoholic so about 14 years ago we lost all of our financial stability and he doesn't live with us anymore(long story...)
I'm looking at this inheritance as a way to get out of the rat race in a sense. Buying a <50k house in a state where the public education system/state university system is good is what this would essentially boil down to, pretty much allowing us the ability to all go to college and establish careers without worrying about how to live (we currently rent in NJ, which is insanely expensive)
Do you guys think this plan makes any sense? what are the downsides to buying a house? we were thinking somewhere where the property taxes are cheap too.
Let me know what you guys think
Submitted January 29, 2017 at 06:42PM by suspiciousobserver http://ift.tt/2jH96Tq
