Am I crazy for considering buying a Condo?
23 single male still living with my parents.
I have a safe job making 41k a year.
I have close to a full year's net income saved up (27k)
I really want to move out right now but can't decide on renting an apartment or buying a condo. There is one 3 1/2 for 127k that would get me very close to my work place.
Looking at online mortgage calculators and comparing to renting price, it doesn't seem half bad.
Is this a bad financial decision?
wait till the market crashes, retard
Live with your parents and save up more money. I regret moving out early (20 years old) just to feel liberated and independent.
>buying the absolute top while boomers are about to die off
come on lad
did you include the HOA price? they are going to be $200/mo minimum depending on your area.
prices are pretty inflated right now, its a bad time to buy
how long do we have to wait? I'm getting old too you know
i bought my first place when i was 22. rented out the other 2 bedrooms to cover the mortgage. never paid a dime out of pocket for living expenses for 3 years. having roommates isnt so bad at that age. eventually went on to buy rentals to cover the mortgage on my main residence
>23
>old
it will happen in the next 5 years if you believe in the market cycle. you can save up ca$h big time if u just stay at ur parents. literally nobody cares.
no one can say for sure, maybe it'll never happen. But there's a significant chance of a good crash within the next year.
Not OP... I'll be 30 this fall