Hey everyone!
I am a total noob to the Personal Fimance scene. My wife and I just graduated from medical school, residency and fellowship and finally have our first real jobs. We are fortunate enough to have paid off our loans, and just moved to a new city (Washington, DC) although we are open to living in the suburbs.
We moved into a place which is $4700/month for rent. We love the modern feel of the place, but feel like we are wasting a lot of money we could be spending on buying and renovating a place, or potentially buying a place and renting it out to in-turn pay off the mortgage on the new place.
Although we signed a 2-year contract here, our only penalty for breaking early would be that we have to continue paying rent until they can rent the place out to someone else. The place had 3 offers within 24 hours of listing so I don't think it will be a big issue.
Any ideas of what we should/could do?
First time posting and asking for advice on such a anxiety-provoking topic! Appreciate your patience!
Submitted October 28, 2018 at 09:15AM by sushi69 https://ift.tt/2Snkt2l
