Currently, me and my girlfriend rent an apartment. We are both students and work fulltime. Rent comes out to about 1600 a month since it is a 2 bedroom. We have no savings, and a couple of grand of credit card debt. We are not ever tight on money, this is mostly due to spending our money on trips, and such. I have been able to save up to 10k while paying rent for a car. We only have 1 car payment since I own my car, and it's about 231 dollars a month. We can pay off our credit card debt (7k) probably within 2.5 months if we were frugal enough. We both have pretty good credit and history (both over 750). Our household income is about 8k a month with taxes. Apartment living is become really inconvenient for us because of certain rules we have to follow, and we have been fined for it. Our lease is up coming this December, so we were looking at some houses to buy. There are some that interested us at around the 200k range. Mostly were some pretty nice looking manufactured homes with 1-2 acres of land. Property taxes in that area are extremely low. The mortgage with taxes and insurance came to about 100 dollars more than we pay on rent. We are honestly expecting that 100 dollars more anyways as soon as we have to renew our lease. We live in Tx. Should we continue renting for another year and just save as much money as we can? I honestly feel like we could easily handle buying a house.
original posted by Annual-Scallion5430 to r/personalfinance on Mon, 04 Mar 2024 13:33:20 GMT.