First time renting an Apartment

Rent now or later

  • Rent that shyt now think of the money!!

    Votes: 4 57.1%
  • Enjoy your summer lifes too short

    Votes: 3 42.9%

  • Total voters
    7

WaveGang

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I have a dilemma.

I recently got a valuation on a property to rent. Which equates to circa $250 profit on my income. If I was to rent out the property I would have no where to live but could live with an aunt (rent free) who I am very close with, however that isn't ideal for a guy in his early 30s.

Essentially I would aim to save again to buy another property.

Financially it makes the most sense to rent now but I'm thinking do I:

a) Enjoy my summer, having my own place etc, wait until summer is over and, research myself and put it on the market.
b) Get it done now while the opportunity is there, rent via a realtor (they take 8%) and use the residual income to put my goal in motion.

Anyone had experience with this?
 

Macallik86

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  1. See if there's a way to compromise to reach your goal... Maybe live in the apartment but schedule time to study X days a week. $250/mo is not terrible by any means, but if you invested more time into professional development, the payoff will typically be many multiple larger than three stacks
  2. Make sure you aren't burdening your aunt unintentionally
  3. What other ways do you plan on growing outside of the extra $250/mo? Weigh whether those goals will be easier/harder to reach based on your place vs your aunt's place. For example, if your summer goal is to spend more time with a girlfriend, staying at your Aunt's crib isn't a good look. OTOH, if your goal is to save money to buy a car next year, then you might be more tempted to spend $$$ living on your own.
 

MJ Truth

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Always take short term pain if you have the choice, because it will make your future better.
 
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