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#21
08-17-2005, 02:08 PM
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Re: Being single, young, and buying a house
If you plan on staying in a location for 5 or more years and have the ratios plus income it is worth buying esp if your are single since the interest will likely be your only tax write-off.
Be careful of buying a condo in a less than 5 year old development however since a lot of time those developments get embroiled in litigation against the contractors and effect short-term value and buyer financing options. 
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#23
08-17-2005, 02:10 PM
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Re: Being single, young, and buying a house
What city?
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#24
08-17-2005, 02:11 PM
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Re: Being single, young, and buying a house
[ QUOTE ]
Be careful of buying a condo in a less than 5 year old development however since a lot of time those developments get embroiled in litigation against the contractors and effect short-term value and buyer financing options. [/ QUOTE ] I'm not sure what you mean by this. I do know that the city is very happy they are being built however. (if that matters)
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#26
08-17-2005, 02:12 PM
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Re: Being single, young, and buying a house
[ QUOTE ]
One question: Why are you so bent on buying at this point in your life? [/ QUOTE ] I wouldn't say I'm bent on it, but it's an option I'm seriously considering since I don't like the idea of paying rent for 5 years with nothing to show for it.
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#29
08-17-2005, 02:14 PM
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Re: Being single, young, and buying a house
it seems like you're not really making enough money to buy a place for that price, but of course it's up to you to do the math and see if it works. if it does work, go for it.
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#30
08-17-2005, 02:14 PM
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Re: Being single, young, and buying a house
[ QUOTE ]
I should also mention that I have another small income (about 500/mo and growing) from that which shall not be mentioned. (not poker, the other thing.) [/ QUOTE ] You're new on the man-whoring scene?
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