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re: Buy or Rent

Posted on 1/29/13 at 9:34 am to
Posted by dewster
Chicago
Member since Aug 2006
25657 posts
Posted on 1/29/13 at 9:34 am to
You are from Beaumont, so you probably know the area pretty well. I'd normally say rent for a year and get comfortable with the area before you buy.

I'd just get a 6 month lease or live with family and accumulate cash and build or purchase your dream house somewhere nice. Extend lease as needed.

And congrats on graduation.
This post was edited on 1/29/13 at 9:37 am
Posted by BeaumontBengal
Member since Feb 2005
2341 posts
Posted on 1/29/13 at 11:29 am to
The nicest apartment in Beaumont only costs 1100 for a 900 square foot 1 bedroom with study. A whole years rent would be $13,200. Decent area of town. 3% interest on a $250,000 dollar loan is $7,500. Interest, property taxes, any home maintainance, etc could get pretty close to $13,000 after 1 year, so I don't think I would just be wasting away too much money if I rented for a year.
This post was edited on 1/29/13 at 11:30 am
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