Ill try to keep this as short as possible. I'm trying to get serious about my financial future at age 29. I wasted my early 20s and started to settle down around 25.
I started a job in January, and my monthly net pay is 2500-3000 depending on OT opportunities. If I stay it this job for a couple years, I think the most I can make is 45-50k.
I'm currently living at home, have 6k in the bank, and about 1700 debt on my car. I have one year, 160/month on it. The car is worth 12.5 and should run fine another 12+ years.
I'm looking at apartments now, and ive been approved for one that is 850/month plus electric. Everything else is included.
I'm worried that if I start renting now, ill never stop.
I dont know much about buying a house. Im looking at going the FHA route, and putting 10% down on a house worth 150k-175k. Though, even in that case, if I could get a mortgage of 1k a month, I'm not sure i would be able to handle that, plus taxes, utilities other than electric, and house upkeep. I dont think I would ever be able to do that on one salary.
Am I right to think that owning even a cheap home would either require a partner, or a significant raise? Is renting my best option?
Submitted April 23, 2019 at 10:01AM by undercovermf http://bit.ly/2KYv0Br
