Friday, March 05, 2010

To Buy or Not to Buy

This weekend I'm headed out to look at apartments and houses and condos. I'm in a weird place right now given the fuzziness with my job situation -- I kind of have a job, but not really. I'm debating about whether to buy or rent. Here's my options:

1) rent a nice 2-3 bedroom apartment (dishwasher, washer/dryer hookups, garage, central air) for about $750-$1000 in a fun/good area.

2) buy a 3 bedroom house in a good school district (but not really fun area) for $200,000-$250,000.

3) buy a 2 bedroom condo (maintenance fee of $150/month) in a good area that's close to the fun area for about $115,000.

I have enough money for a good downpayment on either of the purchasing options, and the tax credit seems like an awesome deal (especially for the condos), but I'm not sure I want to be locked into a condo and I'm not sure I'm financially in a position to purchase a house before the end of April.

So I guess I'll see what I see. Anyone have any thoughts?

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