Many people live their lives striving for a big house with nice cars and all the toys and gadgets they could imagine. Some work really hard to see these things come to fruition, while many never reach this level.
My fiancé and I are currently searching for an apartment to live in after our wedding. The plan is for a six month lease, but we have to choose between a nice place that is more expensive or one that is sufficient and cheap. This is a decision we need to make based on our current financial situation. The same decision needs to be made for our cars and other bigger ticket items, which could make a big difference in our finances down the road.
But First: Housing
My fiancé and I have the decision between keeping her apartment for another six months at $610 a month and moving into a newer place to spend our first half-year as newlyweds. Do we want to live in a nicer complex or townhome? Definitely. Can we afford to? This is something we have yet to answer. This is the first housing decision we will make in our adult lives. While it doesn’t have a huge impact on us, it will be a good indication of how we will make larger decisions (like buying a house) in the future.
Where you live is a decision that shouldn’t be taken lightly. What are the implications of buying over renting? It seems like a distant past but the housing market crash left many people in foreclosure. And with interest rates zooming up like crazy, a housing crash could just be around the corner. If you can foresee having trouble paying for a…
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