Should I buy a house?
Should I buy a house?
Howdy!
I am a 22-year-old looking to purchase my first house in about 10 months. I live in a major city and I am looking to move closer towards the metropolitan area (central northwest Houston, where 610 and 290 intersect) from the cypress area. I have no debt, a 780 credit score, and make about 80k a year pre-tax. I was hoping to put ~20-25k down for a 3-bed, 2/3-bath house around 300k. This would put the monthly mortgage at ~$2000. This is just under 50% of my monthly income. I understand that is too high so I would rent out the rooms to my peers (I already have a few interested) and charge them ~$1000 a month. I do currently live with my parents for free, but their strict rules is really pushing me to get out so I can have some freedom. I also feel this area is gonna be a lot better than where it currently is in about 5-10 years, it would be a good investment
Is this a bad plan? Any advice?
Anything would be greatly appreciated 🙂
submitted by /u/RapidSparks
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