Anonymous
8/15/2025, 12:45:58 AM
No.82186128
Me and my mom got into a fight with my dad because he made condo tour appointments on his own after trying to convince me to buy a condo with my grandmother's inheritance ($100k), instead of renting an apartment. Besides the inheritance, I have 28k in savings. I only make about 44k a year, so the monthly mortgage payments, combined with HOA payments and utilities, sounds like I'd be asking for financial stress, even if I make a large down payment. Am I wrong? The units aren't even that great and the cheapest one costs 195k, can't imagine the price will drive down that substantially. Would post this in /biz/ but it's /r9k/-related as I currently live with my parents
Anonymous
8/15/2025, 12:48:39 AM
No.82186156
>>82186204
>>82186232
afaik buying your property is better than renting
Anonymous
8/15/2025, 12:53:56 AM
No.82186204
>>82186156
It definitely is, but I don't want to drain the majority of my savings on it
Anonymous
8/15/2025, 12:56:51 AM
No.82186232
>>82186156
It depends. Most homeowners would realize greater profits from major index funds while renting vs buying a home. The idea that a home is a good financial investment is just banker propaganda to justify bullshit mortgages. Op stands to lose about 70k to interest. It's hardly cheaper than renting and the appreciation of homes doesn't keep pace with index funds except for rare cases.
