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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So what is the smarter way? I like the convenience of being a renter but I hate not having fixed housing costs going into the future.[/quote]

For the size house you need versus want? Condo might be a better solution if the driving factor is fixed housing costs. More akin to a renter in that there is some building infrastructure for handling major things. The downside of course includes less space (particularly private green space), usually (but not always) a worse “investment,” and less privacy overall. But way more convenient, and most condo developments have shared spaces that you can use for big parties.[/quote]

I think this would make me very depressed. Just bc I’m single doesn’t mean I want to miss out on having a nice home, a community, and the ability to entertain.[/quote]

Op, all we know is what you’ve told us, which is a very bare outline of your financial situation.  If you’re concerned about affording this house, sit down with a fee-only financial planner and go over your actual numbers.

Do you have a handle on how much you spend monthly now?  Can you cash flow this purchase with your income and projected PITI?  Can you handle repair costs and maintenance costs from monthly cash flow or will you need to dip into savings?  Can you handle pulling from savings?   Is the PITI number a 30-year mortgage or a 15-year?  Will you be able to handle the costs when you retire?

We can’t answer those questions for you, or even hazard a guess with the very small amount of information you’ve given us. I totally support the idea of you owning your own home as a single parent. I’d have concerns about cash flow if I were in your shoes.  [/quote]

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