My small software business is bringing in an extra 350,000 or so this year which I would rather invest into the growth of the company rather than getting an expensive house. But I'm also sick of paying 1050 / month (my share, have a roommate) for my current nice apartment which isn't building equity.
The House
The community isn't too unsafe but the area has seen better economic days. It isn't the safest but I think it would be safe enough if I secure the house again break-ins. There isn't really much violent crime at all in the area.
It is outside of the main city, a bit in the middle of nowhere, but close enough to everything that I need, including nearby to the offices for my small business and shopping. I don't have any children yet. I am looking for something for maybe a year, then to move out and rent out the house since I'll have paid it off within months or might even pay cash.
Concerns
- Did you hate it, living in an area "below" your usual standard of living?
- Did you love having the extra money every month? If so, what did you do with the money?
- What motivated you to be conservative with your home purchase?
- Did you sell it or rent it out after you moved out, or did you decide to just stay there?
- Is it a waste of money, should I get something more along the lines of "still frugal but not cheap" like 150-170k? My number one fear is that I'll spend 25k on a house and then would have trouble renting it out or selling it later. Rentals in the area are strong but still a fear of mine.
- Is investing in low-tier property a waste of time? Rentals in the area are only between 400-650.
Submitted April 07, 2017 at 12:03PM by SignedUpForTrump http://ift.tt/2o6c18M
