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Common Housing Options

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The three to four most common housing options are; renting an apartment or house, buying a new house, buying a pre-owned home, and buying a condo. Until doing some housing research last year & reading this lesson I thought buying a house was the wisest housing option for my roommate, Shawna, and I. I really enjoyed how candied C. Crammer is in his article about home buying. Here is a little background, she makes $42k a year, and her job is stable. Her credit is perfect. Myself, poor credit, I made $12k last year, and I am currently and unemployed student. Right now we are a “we” when it comes to housing. Our apartment is leased in both out names. The next place we go will be ours. Last year we talked Shawna and I talked about her buying a home. I would then pay her rent instead of us both paying a stranger for a crummy apartment and the money going down the drain. After really looking at loan rates and cost of housing repairs, HOA fees (unavoidable were we live), lawn care, and taxes buying a house was not the wisest idea. …show more content…
Neither of us have the experience with home repairs. Our budgets are so tight that a maintenance emergency could set us back for months. I am allergy to grass, and my roommate doesn’t have time to move and keep up a lawn. Yes being able to paint walls and remodel without restrictions sounds great but the risk is to high. “Living in a mobile society affects the decision as to weather to rent or buy our housing.” Personal Finance, P. 284) We are two friends living together; buying a house isn’t the best option. What happens when Mister Right shows up and I’ve committed to helping my roommate with the mortgage? I’m sure he isn’t looking for a wife with a tag along roommate. I will finish my AA in a year. What if God calls me to a university to far to commute to? Yes we are doing life together right now, but that isn’t

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