I am a single child free woman in my late 30's - I have a great job and currently make about $88k before taxes. I have about $20,000 saved (outside of my 401k, not touching that) and had been looking to buy a condo or small town house. Unfortunately I've been priced out of the market where I live - not by what I can afford for a mortgage but that everywhere is going $20-$30k over asking, all cash, no inspection, etc. I'm currently in a 2 bed/1.5 bath apartment for $1240 a month. While its functional, its old, outdated, no amenities whatsoever, and the onsite management is a nightmare. I'm considering renting a luxury apartment (completely upgraded, pool, gym, etc) which I can get for anywhere between $1900-$2300. A few pros for me with renting: I don't want to be responsible for maintenance (inside or outside) and I'm not sure I want to get a 30 year mortgage at this point in life anyway. Cons are of course that I'm still renting, not buying, and its a pretty big jump in monthly rent. I'm also currently WFH full time and will continue to have a hybrid schedule in the future, and I'm homebody so my residence is where I spent the majority of my time. I want it to be somewhere I'm happy.
Submitted July 31, 2021 at 09:13PM by AM0120 https://ift.tt/3C2SRGr
