Tuesday, December 8, 2015

Should I save up for college or a house first?


I am currently living with my dad, so I don't have many bills of my own. I want to go to college, starting with an associates degree from the local community college, but I'd also like to own a house and feel that if I wait too long to start saving for a down payment, I could find myself in a position where I am trapped renting instead of owning. Renting is a lot more expensive here than paying a mortgage and the annual property tax, and I just really want that feeling of security (such as not having to move because the landlord raised the rent too high or being evicted because the apartment complex was sold) that doesn't come with renting a house or apartment. I also feel that owning a home would free up more income in the long term, allowing me to still pursue college and eventually complete a bachelors degree or higher if I choose to do so.

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