I am 24 and I have been renting my apartment since I was 21. I’m ready to move to a bigger place. I recently applied to rent another apartment but after the tour and filling out the application, the landlord (privately owned condo) never contacted me back.
For reference, I personally feel like I fit requirements on paper. My credit score is 750, I am single, childless, and pet-free, I’m a quiet introvert, I work in IT making 60k, I’m debt-free (even my car note), and I don’t have anything bad on my report such as an eviction or foreclosure. But, this still wasn’t enough since she basically disappeared (even after saying she’d let me know a week later). I reached out but no reply. I’ve been apartment hunting for a while (over a year) and either I haven’t found anything I liked or I didn’t get accepted. I don’t usually apply unless I for sure want to move there and I did want to move there.
Since I’ve given up hope and would rather not keep apartment hunting in the future, I thought about buying my own condo. I don’t want a home/townhome since I don’t like basements (bugs), cutting grass, or shoveling snow. A condo would be perfect for me since I don’t want children. If I do get married in the future I would be content living in a condo.
Since no one apparently wants to rent to me, should I save up a 20% down payment and once I find a condo that I like maybe next year then I buy it? I currently have 14k liquid cash saved (I don’t plan to dip into my retirement accounts so that’s excluded). I wanted a condo that wasn’t more than $100,000. If I can save 6k by next year then I’d be ready to move once I find the right place. I’d only move within the county I currently live in since other counties aren’t as good in my opinion. I figured my mortgage would be cheaper than my rent and I’d just have to pay HOA and electric (in most condos). Ultimately, I’d like control over my own living situation rather than rely on a landlord. If I decided to move down the line I could rent my condo out.
December 10, 2020 at 12:03AM
