They usually say something like owning an apartment is worse than renting an apartment and I should save up for a house because that’s better.
If you add up all the income I’ve made in my life, it’s probably nowhere close to being enough to buy a house anywhere in my city. But some trashy apartment? I think I could afford that eventuallly. I only rent trashy apartments and the landlords don’t fix anything worth a damn and I end up doing half of my own repairs - cuz at least that way it’s done properly. it annoys me every time that I fix up some rich person’s apartment, then I move, then fix up that rich person’s apartment rinse and repeat. And it’s annoying that the landlord tells me if I modify the room (ex repairs) that violates my lease and they’ll evict me.
But if I own it? At least I just fix it once.
Irl people also say if i buy it, it could have like black mold. Like dude, my current place has black mold already. I think most of the irl ppl I know are pay check to pay check, but I don’t use taxis or buy take out the way they do.
(My bathroom door literally just fell of its hinges.)
How long are you planning on living in the area? Do you have enough for a down payment to purchase? How much would a mortgage be as compared to renting?
Many people online have opinions on this, in terms of when it makes sense to buy instead of rent. I think there’s a lot of factors, one of which is your tolerance of risk. I’m currently on my second condo, having sold the first. I bought during a peak in price so I lost some money there, but when I bought my second prices were significantly lower than they currently are so I saved money on my second purchase. I prefer owning to renting but I also live in an expensive city where selling is quite easy and affording a home is unlikely for most individuals.