Advice & resources? My spouse and I are starting to make good money (ages 28 & 31, $105k & $70k) with $10k in savings (we were hit hard financially this year) and 2 car payments.

We live in a cheap apartment ($1.3k) that is sh*tty. Don’t quite have a down payment (especially not in ATX). Is it dumb to rent a house for a year at $3k/month while we save up again?

We both didn’t come from $ and are figuring out how to not be idiots 🙃 tbh we would prefer to rent forever but that feels dumb???

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I feel your pain! It feels dumb to rent but also it’s expensive to buy…I would consider saving up 35-40k and then buy a 250k-300k house. First time home buyers can usually put 5% down on a house (12-15k) and expect closing cost to be around 15-20k. Bring you to 27-35k to buy a house.

I just recently bought a house in this range and while it was difficult it is much better than throwing my money away renting!

Good luck!

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By sh*tty, what do you mean? Unsafe? Uncomfortable? Old, nasty? Bad commute?

I guess my question is is the condition of your current apartment a valid reason to double your rent and move (specifically if you're trying to grow your savings)?

Also, homeownership is a huge commitment (speaking as a first time home buyer). I think it's great that you're trying to save for one. But you should buy a home when you can afford it AND want it. Any reason why you would rather rent?

So we resigned our lease right before rent SKYROCKETED (again) in Austin, but that’s exactly how I feel….I don’t mind moving somewhere for about $2k/month (what our rent is increasing to anyways, which is INSANE for this place). But my partner wants somewhere nicer and thinks we could get priced out of whatever we would buy here because of property taxes anyways. So thank you! I needed a sanity check. It feels crazy to pay twice what we pay now with where we are at when there are more reasonable options.

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