I need some advice.
We're looking at buying a small house or a townhouse. We went through our finances and figured out what we could afford for a mortgage payment and all that stuff. We could afford a decent house, but that would just about max us out with money every month, and I would rather live comfortably with money for emergencies and things, then not saving.
So we decided we might be better with a townhouse. We know there would be association fees and rules to follow, but there are some townhouses in the area that are much less than a house - like $20,000-25,000 less. There are some small houses out there for almost the same price as a townhouse, but most need work.
Would it be worth it to buy a townhouse or to continue renting? We would be in the house for at least three years, until FH finishes school. Even after he's done school, if he can find a job in the area, we will stay. He's starting school for mortuary science, so basically have to go where he can find a job. I've done so much research and have heard different opinions on both sides, but wanted to see what everyone here thinks.
We're looking at buying a small house or a townhouse. We went through our finances and figured out what we could afford for a mortgage payment and all that stuff. We could afford a decent house, but that would just about max us out with money every month, and I would rather live comfortably with money for emergencies and things, then not saving.
So we decided we might be better with a townhouse. We know there would be association fees and rules to follow, but there are some townhouses in the area that are much less than a house - like $20,000-25,000 less. There are some small houses out there for almost the same price as a townhouse, but most need work.
Would it be worth it to buy a townhouse or to continue renting? We would be in the house for at least three years, until FH finishes school. Even after he's done school, if he can find a job in the area, we will stay. He's starting school for mortuary science, so basically have to go where he can find a job. I've done so much research and have heard different opinions on both sides, but wanted to see what everyone here thinks.