there are a lot of rooms behind where that pic was taken from…
house is going to be in another year or so. there are a lot of factors, but right now I want to just have a steady payment and not have to worry about doing renovations or surprise large house repairs, especially since i want an old house in the elmwood area.
i bought my 1st home at 21, going to buy my 2nd one next year. and rent out the 1st one. dont get me wrong i like the apartment. but spending 900+ on a apartment for this area is not my thing in this area.IMO
From a financial standpoint. Owning a house is the thing to do. Tax wise, investment wise.
But when your 20 something, just getting your feet wet with a decent job, its nice to have a maintained apt, where you don’t have to worry about anything except advancing in your career track.
As for me, I’m not staying in this area for very long. I rent month to month, and can bounce any time I would like to with 30 days written notice.
When I move to AZ I’ll buy a nice house, but for now I pay 435 for a nice apartment in the suburbs, so I’ll stick with that.
But paying 900 a month for anything in this area is almost stupid.
If you’re staying in this area for more than a couple of years (long enough to offset the closing costs through appreciation and whatever value you place on greater quality of life) you’d be a fool to pay $900/month in rent when you can get a mortgage on a decent place for that.
Renting a place at $1k/month in Buffalo does not mean you’re baller. It means the guy profiting off of you is baller.
Everyones input is appreciated, but I know what I’m doing… I work at a bank as a financial analyst, and am well aware of the financial implications of buying vs. renting. Right now with the housing market sliding, it is a good time to buy, but only if you are going to hold onto the house longer than the near term. If I were to buy a house this spring, I wouldn’t be able to afford exactly what I wanted (I’ve been following the local housing for quite a while now, and am very specific), but I will be able to in a few years.
Just because $900 would be an ok mortgage, dont forget utilities, repairs, renovations, taxes, etc. etc. This is how a lot of people get in over their heads with houses they can’t afford. Additionally, jumping into the housing market right now with the intentions to sell or flip in a year or two is retarded. You could be sitting on a house you dont want for one, two, or more years trying to sell, or lose your shirt on the asking price. Things arent what they were a year ago. With an apartment that is easily affordable, I can plan to be out and on the housing market at a specific time, and not have to worry about unloading a house that I didnt want to buy in the first place.
Yeah, I’d be with a roommate if I made the move. Thats my one sticking point. If I could live there on my own I’d already be there. Cool guy though, it would definitely be a good time.
Heat is included, along with being able to watch all the security cameras on your tv, empire zone electric rates, dry cleaning delivery, and concierges to deliver groceries.