B
bjmarchini
Guest
I am divorced. 34. male. with 2 kids on weekends (11&13). I make about 52K.
am I better off just renting? I live in a pretty expensive area in Eastern PA where Condos start around $200K and most houses start around 250-400.
I figure a mortgage for about 250K will run me about 1300/month. plus tax which is pretty high in this area (4K per year) plus insurance and upkeep.
On the other hand, I have been renting a nice little 2 bedroom apartment for 5 years now for 725. It is a little lower than most in the area. Most I would be at would be $850 in other areas although I don't plan to move anytime soon.
I am pretty good at saving and use "pay yourself first" saving about $400 per month that I put in a high yield savings account (4%) and then transfer anything over 5K into a mutual fund (low risk). Plus I contribute 8% to my 401K and my employerer kicks in another 2%.
I pay about $400 in child support after taxes.
am I better off just renting? I live in a pretty expensive area in Eastern PA where Condos start around $200K and most houses start around 250-400.
I figure a mortgage for about 250K will run me about 1300/month. plus tax which is pretty high in this area (4K per year) plus insurance and upkeep.
On the other hand, I have been renting a nice little 2 bedroom apartment for 5 years now for 725. It is a little lower than most in the area. Most I would be at would be $850 in other areas although I don't plan to move anytime soon.
I am pretty good at saving and use "pay yourself first" saving about $400 per month that I put in a high yield savings account (4%) and then transfer anything over 5K into a mutual fund (low risk). Plus I contribute 8% to my 401K and my employerer kicks in another 2%.
I pay about $400 in child support after taxes.