I am soon to be engaged, we are in our late 20's-early 30's and will be moving in together as soon as we can. I am currently renting a nice house with my brother for $1700 a month, but need to find somewhere else thats cheaper and in a more central location for us both. we've talked about buying a house or renting, and both of us aren't too excited about being in the area for the next 5 years. that being said, with the current state of the job market Im thinking it may be best to settle in here for awhile. we'd be searching for a house in the low-mid 200's, or renting for about $1500 per month maximum. unfortunately the housing market has been disappointing when finding a rental or buying a house. this has got me thinking about our current climate: home loans are currently have realllly great interest loans, but home prices are skyrocketing and are literally selling the same day they're listed (4-5 coworkers have bought or sold houses sameday this year). my thought is this: since loans are cheap and houses are expensive, is now a great time to build a house? I never would have considered it, but given the current climate, it may actually be the cheaper option? for reference: combined income is about $120K , we both have credit scores above 760, I have no debt, she has about 25k in a mix of student and credit debt.
thanks for you thoughts.
Submitted December 02, 2020 at 06:04PM by hookydoo https://ift.tt/3oh2vgT
