(25M) With approx. 50K in cash and stocks. Making approx. 60K a year. My car is paid for by my work so I do not have a car payment and I don't have to worry about maintenance. I am currently paying about $800 a month in rent - not including utilities.
My lease ends in September and I am trying to decide if I would be better off buying a fixer upper house in the 120K - 150K range or if I should find a new apartment and continue to rent.
On one hand I can buy a house that needs some work done (I am somewhat handy but I don't want to invest a lot of time into fixing up a house) This option would leave me about 15K in cash to invest. This option is also attractive to me as a house will allow me to live more comfortably with a garage and a place to keep all of my stuff.
On the other hand I can find a new apartment, continue to pay rent, and keep approx. 45K invested into the stock market.
I am trying to decide which is the better option long term.
Buy a house in a crazy market - spend more time with maintenance and repairs - build equity in a property - but have less money to invest.
Or
Continue to rent - deal with having less space for all of my stuff - don't build equity in a property - but have more cash on hand to invest with.
Any input is greatly appreciated!
Submitted July 16, 2021 at 09:20AM by Kyle____k https://ift.tt/3iaRZq8
