I'm a first-year PhD student and I've been thinking of buying a studio apartment on a mortgage for some time.
The city I stay in has a high rent/buy ratio and about 60 months/5 years of rent can equal the apartment value itself.
The monthly mortgage+HOA fees+taxes would be equal to the rent I'll pay for 5 years, but I'll own an apartment at the end of my PhD.
I have saved up some down payment, so that's taken care of.
Is it worthwhile to do this? Are there any hidden risks I'm not accounting for?
January 07, 2017 at 10:05PM
