Re: Looking to Buy my first House, Need some Help/Tips
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Seriously, look into a one-bedroom apartment for a year. Your kid won't need his own room for awhile.
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Isn't this just throwing money out of the window?
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Yea, I don't know why so many people use the 'throwing money out the window' reasoning when they talk about rent. Yea, you're not building any equity, so it sucks in that sense, but like some other posters have said, with virtually $0 down, your equity on a 30 year mortgage in the first couple of years will be very little.
Plus, things cost money. All people need food. Food costs money. All people need clothing. Clothing costs money. All people need somewhere to live. Places to live cost money. Yea, it's a bigger expense than other needs, but it's something you need to get, so you'll have to find a way to make it work. You're not 'throwing it out the window'. Housing is not free.
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