Author Topic: Convince me to rent (... or buy)  (Read 573 times)

teltic

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Convince me to rent (... or buy)
« on: September 21, 2017, 07:41:51 PM »
Hello!  First off, thanks for reading & offering advice.

About Me:
Age: 26 (single)
Salary: $62,000
Investments $139,000 ($65k of it in individual... Down payment on a house?)

Current Living Situation... LIVING WITH PARENTS. (eeeeeek... or is it?)


I'll be honest, I've been living for free with my parents for a while.  I just graduated with my masters (finance) in May, and told my parents its time to pay rent.  My parents are too nice to me.

We negotiated $300 a month (they wanted it to be $100... Again they are too nice).

I currently live 12 miles away from work.


Long story short do I...
1. Continue to rent a room from parents
2. Rent a place closer to work (roommates perhaps?)
3. Buy a place (buy a fixer upper? maybe a decent place and grab roommates?)
4. Any other advice you can offer


I live in Salt Lake City area.  Looking in the lower class area (rose park, fair park, where my work is located), I could get a house for $250k, which that could be rented for $1500 a month (3 bed, 2 bath).

Thoughts?