I've been a part time employee and a full time student for about 3 years and only have a small portion of my income from my years working (before and during university) tied up into some stocks (only about $4,000). I'm fortunate enough to not have to worry about student loans as my parents are handling tuition, but I still have a fear that I won't have enough money to make ends meet with high living costs, graduate school tuition (which I hope to pursue after I graduate in a year or so), car insurance, utilities, food, and all other expenses.
I know this may be silly, but I can't shake the feeling that I would be throwing my money away if I were to rent instead of investing in property that will retain value. If I were to pursue purchasing a home (preferably a duplex or other multi-family property I can rent out to others), I then have down payment needs that must be met, but I have no idea what percentage I should aim to pay. Some suggest 20%, others regret paying 20% (let alone whether it would be advisable to pursue an FHA loan). None of these hopes even matter until I can secure a stable full time position after graduation, though, I fear that even with a full time position, I'll be stuck paying high rent trying to save for a house, but spending massive amounts of money on that very rent I have to pay to build my wealth...
I just can't help but feel a bit trapped with the massive costs of just staying alive coupled with my imposter syndrome convincing me I won't land a position that will support these needs. I know I've made a spaghetti post; I'm hoping to hear about what I'm not considering regarding homeownership, experiences of fresh graduates' housing situations, and other things I should expect and plan for in regards to my desire to avoid renting. Just how much of an idiot am I?
Submitted April 10, 2021 at 07:39PM by homecycLical https://ift.tt/3mAlEuy
