How long should someone live in an apartment before getting a house?

Question

I can't imagine paying rent my whole life because there is no financial benefit. But some people pay rent their entire life. Is that ok? I think it'll take me years before I have enough for a down payment! Is it better to have an apartment anyway?

Answer 1

Yes, an apartment is good for many reasons. First of!! if you can't afford to buy a house yet, it would be the place for you to stay- and still can call a home for you to go to.  Do your research to find out what it would be the cost every month if you would buy a house in your dream.  Most of the time, it would be costly to own one than to rent one.  Find out if you can afford it by take how much you make a month then deduct the cost of living of what you make.  See if you can put that money in the saving to put down on the house.  You will know how long it will take by see how long it takes you.

Answer 2

basically you live by your means

if you want more, then come up with biz idea

but these people who own prop leave it to somone else when they die

x*x

Answer 3

hmm ... live in an apartment , then lose your job, can't pay rent = out on the street ....   own a house, then lose your job, can't pay mortgage = sell the house and use the equity to survive ...

It is never to soon to buy a house, which is the greatest hedge against inflation that you will ever own...

Also, if you live in the USA, then the interest on your mortgage is tax deductable.. so if you have a huge credit debt, borrow against the house, pay off your debt, and make your payments a tax deduction

Answer 4

Renting buys you freedom.  If you take a job in France, pack up and leave in 30 days.  You can't do that if you own a house and have a mortgage payment.  

There will come a day when you wake up and know that it is time to buy a home.  Don't rush it.  You will know when it is time. /

Answer 5

If you cut out the extras, then you should be able to save up a down payment. I can't wait to have a house, but we need to save up more money. We are hoping by the time we're 30 to have a house.