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Reply to "need to buy a home to save money but can't"
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[quote=FruminousBandersnatch]If you're paying $2K a month in rent but can't save, why are you paying so much in rent? Have you cut unnecessary expenses to the bone, or are you living a comfortable urban life? In a rental you're not paying for maintenance, and you usually don't have to provide all of your own appliances. You're also not usually paying for all of the utilities or insurance. There are a lot of costs associated with home ownership that add up. It isn't necessarily true that you save money by owning your home - in the short or long run. You should be talking with a financial advisor about (a) how to manage your current budget, (b) how to get your credit score up, and (c) whether it makes sense to save for a house or if you should be putting that money into other things. You say that you want to OWN and SAVE, but the saving you do is simply electing to put your money into a house rather than investing it other ways. [/quote]
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