I currently live in an apartment with my wife. Rent is $1570 a month. Our lease is up soon and I've been looking at houses. There's a nice house for $250,000 that we like. I make roughly 85k a year with about $1000 in expenses each month (including any debt I have).
My wife's situation is a bit more complicated. She's working part-time and going to school so she's only making enough to pay 750$ in rent and cover her bills. Next spring she will graduate. Without going into detail she should be guarenteed 90k or more salary, however we will have about 60k to pay in student loans. (Note: if worst came to worse anf school didn't work out she would make 60k at her current job if she were working full time)
I have $45k in the bank and willing to put down $20k on a down payment for the house.
Other factors about the house:
1.5% property tax 135$ a month for Homeowner's association.
Also we have pretty solid credit.
So should I spring for a house that I want now, or wait another year and live in an expensive apartment? Any adivce/opinions are welcome.
Submitted February 21, 2018 at 08:44PM by regularguy123456 http://ift.tt/2EHUMCb
