I recently graduated undergrad with $27,000 in student debt with interest rates from 3-5%. I am currently employed making $62,000. I live alone renting for around $1,000/month. I also have a monthly car payment of $284/month. My girlfriend will be moving in with me in a few months and be making around $60,000, with $30,000 in student debt with around the same interest rates. My question is this: in a year or two when my girlfriend and I have enough capital, would it be better to purchase a home in the $200,000 range, instead of renting? It seems if we can purchase a potentially appreciating asset, we could benefit from the sale of it in a few years instead of using our money on rent, which we would not be building equity with. On the other hand, we also have student loans and a car payment to pay off, so would it be better to focus on that first?
Submitted July 21, 2019 at 07:55PM by BobbyDoe123 https://ift.tt/2M5JEWq
