Currently living at home but did rent an apartment with a friend from 20-22 years old, currently 22. I have been looking at house prices where I live and if put down a 20% down payment on a house then the mortgage would be about the same as renting an apartment would be ( not including taxes and insurance in monthly mortgage). The only downside I can think of is having to live in the same place for a long time and all the maintenance (the biggest issue), repairs, and updates I'd have to do if I owned a house. Is there any other reasons I NOT to buy a house? The mortgage would be somewhere around 550 per month on a 15 year fixed rate. Also, I have a stable job 40k (2.2k per month after tax) and good credit score. After a 20% down + closing costs I'd have about 10k in the bank which would include a backup living expenses and then the things I'd have to buy when first moving in, which will probably be around 2k-3k total. Also never lived by myself before but I think I can manage and or possibly rent out a room to my previous roommate, but I'm not to worried about that right now. What do you guys think, back to the apartment life or am I ready to buy a house?
Read more: Buy house or rent apartment?
