AJ wrote:


Whatever we do, it's a gamble, but the most important rules seem to be:
Never buy anything you can't hold onto for at least ten years and Never buy
a property you don't really like or can't really afford.

Yes, I agree, infact I thought the exact same thing bout the real
estate bubble. This is how I look at it, let me know what you guys
think.

1. My lease on my appartment is up soon, I pay 920 a month + utils
2. Upon the end of my lease the will surley raise my rent tho who
knows how much.
3. The home I'm purcahsing is 185,000, and payments will be around
1220 high estimate. (total, piti)

You need to plan your future in a little more detail than
"bigger and better things in less than 10 years..."

but financially, if you figure out when you expect to sell the house,
you can then compare how much money you'll have in your
pocket at that point if you (A) rent, (B) buy the house,
and sell it at the end of that time, or (C) buy a cheaper house,
and sell it, instead. Choose the result that leaves you
with the most money.

Obviously, the longer you stay in one place, the more sense
buying makes. Equally obviously, owning a house always
costs more in maintenance than you think it will.