Sat 22 Mar, 2014 11:21 pm
Just curious what others think, I am kind of torn. I am divorced have a long time steady job and I have rented for the last year since my divorce. I am looking at a house and been to the bank and know my payment would be. After all of my bills including everything I would have an additional $350 left over a month. I would also still have around $5k left in savings. The house payment, taxes and insurance are $140 higher a month than what I am paying rent. So ATM I have around $500 left over a month. Question is, should I buy the house?
Since you ask the question, I am inclined to say yes - if you've a secure job and plan to live there for the next 5 or 10 years. That's if the neighborhood seems alright and the house isn't in need of repairs. It might not be a bad idea to stroll through the neighborhood and get to meet a few people. See what they have to say about the house and environment.
Thanks for the reply Roger. I have been kind of torn on this. I'm looking at a better interest rate than I expected and after owning two different houses over the last 20 or so years renting makes me feel like I am stepping backward.
Oh good. Since you've owned two houses and you should know the pit falls.