I’m currently 28 living in a HCOL city and was able to save and invest $250k by living at home. Im planning on getting married soon, and I’m considering moving to a more affordable city to purchase a house since I work remote. I will end up dropping around $200k for the down payment in order to afford the monthly mortgage.
On the other hand, I kind of want to keep the 250k invested and see where it goes in the next 5-10 years. I honestly don’t mind living in an apartment and watch my investment grow. I could maybe buy something better in the future.
Any advice? Would I it be a dumb move to pull out my investment to buy a house? Should I just keep renting and investing?
Buy a house now or keep investing and rent for 5–10 years?
byu/lyfehaqer inpersonalfinance
Posted by lyfehaqer
3 Comments
If you are married in this economy I would keep renting. You never know where your job will take you.
Is your job secure?
I’m kind of in the same mindset at you. Don’t have as much as you do saved but I’m locked in at a very cute and reasonably priced apartment. Hard not to wonder if just hoarding cash for the next few years is smarter, but I have generally pessimistic views of AI taking most jobs.
Should probably also consider the opinion of your fiancé. Buying a house is more about the lifestyle you want and less of it being a good investment.