horrible idea… but then again, you probably have already made up your mind
I have saved for 2 years. I would never rent for the fact that the money spent renting is potentially ~12k+ a year that you could be saving for a DP.
If anything, I’ll stay here for 2 more years, save up tens of thousands more and go buy a $250k house and have a $800 mortgage.
no, i haven’t. i went to a couple open houses just to look around and see what is out there and what amount buys me what.
don’t forget the girl factor in this… it’s all simple when it’s a couple dudes hanging out, then it get complex…
and people who use the “rent is throwing away money” need to learn how to invest, either can work to bring good returns… didn’t you just get hired into an important financial position, how!!!
if anything, i’d wait a couple years and move into something like this…
http://r-house.com/app.aspx?st=7010&e=detail&propertyid=1509916&aid=
pick my own colors etc. etc.
What happens when you decide to move out of Buffalo Beck? Or your friend decides he wanted to as well, both being legally obligated to the house, how hard is it to get one party removed? Does it require refinancing?
I’d say bad idea, same reason why I am looking for a house and refusing to have my gf on the mortgage because when/if we break up I don’t want to have to deal with that shit.
why dont you slow the F down and see how your new job is?
this has nothing to do with my new job. i’ve been doing this for months. i’d like to get into something, before the economy turns around.
Damn, a house like that down here in prime location would be 500-550 easy.
the point is, i could send my dad and his crew in there and in a weekend, have it be in move-in condition with my color choices and carpeting selection.
however, i’m not buying a $250,000 house w/ $6000 taxes until I can put down atleast $50,000. If I could just sell my fucking car, I’d be alright and more than halfway there.
Right right, just was saying its a good looking house 
See my above post, find out how hard it would be for either of you to be removed legally and/or bought out by the other if the time came and if that was ok with you then do it.
i would have to find this out.
I’m never moving out of buffalo though, unless I absolutely have to or something happens to my parents in the near future.
If I leave town for more than a week, I get home sick. I can’t stand not knowing how to get places quickly or any take shortcuts anywhere.
Plus, I don’t mind the winter.
Rent = 12000 a year.
Buy = 4000 a year taxes, plus ~7K per year interest on 200K
Yes renting is throwing money away.
Plus maintenance, plus yard, plus crack & hoes.
Oh, and you can’t forget all the Long Island girls that attend UB. What would I do without them?!
I’d say get one just yourself. I had this same question come up, just with the girlfriend. It’s all in my name, and I can afford everything on my own if needed. This worked out better for both piece of mind, plus financially it kept me knowing I was not going to have issues should something happen. For expenses, I pay the mortgage, she pays the bills. Any improvements that stay with the house I do, anything that can be moved out, she’ll do.
In your case, having a situation similar will allow you two things. All money that you would spend on bills, could be put into savings/towards the mortgage.
Financially, where I see issues arising is when repairs/upgrades are needed, who has final say in that? Do you go cheaply, or extravagant? red or blue? They seem trivial, but they could end up turning into huge issues over the course of the living arrangement. What if he doesn’t want to spend the extra for granite over formica? Do you make him pay anyways, or do you pick up the difference?
Also, come sale time, there could be an issue with how you split the final costs/price.
To me, I’d rather be safe than take the risk in this situation.
You do realize Buffalo’s housing market doesn’t really fluctuate?
thank you. this is the best post so far. i appreciate it.
Hope you have a good lawyer. It will take $ to straighten out this mess WHEN the shit hits the fan.
i’m aware. we are plateaued and probably always will be. it will more than likely effect rates though.