Quote:
Originally Posted by medicalfox
My boyfriend wants to buy a home that's cheap (under $100,00) because it would come out to be $500 ish a month which is about the same as a cheap apartment in my area, but I'm not sure if it's a good idea. He really wants to move because our landlord is ripping us off and we can't get a studio apartment since everyone keeps turning us down. Everywhere we reply to for studios and one bedroom apartments tell us it's not big enough for two people even though it's 800 sqf which is frustrating. We live in a room share and pay $850 a month which is a lot for a room share since most rooms shares are $300 ish per person and includes everything. My boyfriend doesn't want to do a roomshare with a stranger because he's worried about them seeing my symptoms (like autistic hand flapping and such) and just wants our own place. With all utilities on our own I think it would come out to $300 or less a month which wouldn't be bad. I wish the landlord was nice and cared about us, my boyfriend and him fight a bit because the landlord is dumb about things. He tried to charge us an extra $100 for gas or something, but he's the one that takes a bath and shower twice daily and uses the heat, we live in the basement and just use a electric heater. What do you guys think?
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Really if you can get a home for $500 a month that you own v.s rent, it is the better idea. First off, it would be your home. That means no landlord to randomly decide to charge extra or suddenly decide they are going to sell out from under you etc. A lot can happen when you rent from a private party if that person is already showing you they aren't a good landlord. So the money you put into the home is an investment rather than lining someone's pocket.
But, the downside to a home is that you will be responsible for everything. So make sure you have good home owning insurance that covers water heater, furnace, and stuff.