Posted on: 17th Nov, 2013 11:39 pm
I am unable to decide whether I should rent an apartment or buy a house. I want to shift to California and look out for jobs over there as medical assistant. At present, I am in my parent's home and saving money. As far as I have researched, I will be able to afford a rental home in California if I get a job of medical assistant. Please help.
If you wish to buy a property, you will have to be financially quite stable. You should have 20% down payment saved in your account. Apart from this, you should also have 3-4 months of monthly mortgage payments saved as well. Apart from this, you should have good income and stable employment as well. Unless you meet these criteria, it is better to rent a property.
Hi Guest!
Welcome to the forums!
You can check out the rent or buy calculator in this regard: http://www.mortgagefit.com/calculators/buy-rent.html
Sussane
Welcome to the forums!
You can check out the rent or buy calculator in this regard: http://www.mortgagefit.com/calculators/buy-rent.html
Sussane