After following a thread on another sub about huge regrets and financial loss because of home ownership, I have two questions:
1) What if any conditions make buying a house/apt (vs renting) a frugal choice?
2) Next year I'll have an opportunity to buy a small, relatively new, surveyed, house in a slow growth area (it would probably sell at a small profit a few years down the road but nothing drastic) to live in. The mortgage is just less than my rent is now, and I should have more opportunities for growth at work in the new location. I would be able to keep my job and health insurance, and my savings will be $8000-10000. What should I, a frugal person who has lived and rented in cities for my adult life, consider in buying a home?
I have no idea if buying would be foolish or an opportunity! If it matters, other pros for me are that the weather is better there, I have close friends nearby, and I've really liked spending time there.
July 28, 2018 at 09:31PM
