Quote:
Originally Posted by Isaac Zachary
According to this calculator, if I have $30K saved to put down on the house and make the maximum $56K per year I should be able to afford or at least get a mortgage for a $2103 monthly payment.
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Read the fine print and consider your options. The general advice is if you're not going to move in the next 5 years, you're better off buying than renting.
I don't know how you're paying less in rent than to purchase, because I've never seen a mortgage cost more than renting a comparable space. The whole point of owning a rental is to get renters that pay more than the monthly expenses.
I'm certainly more hesitant to rent rooms now that I have kids, but I'd just find a couple foreign girls going to college or something to rent to. I've had a few roommates who stayed in their rooms 100% of the time unless they were preparing food, mostly Asians. I even had 2 living rooms and made it clear they are as entitled to the shared spaces as me, but people seemed to like their rooms. One roommate I only saw when I invited him on bicycle Thursdays.
I've got a few who still keep in touch.
BTW- when you're occupying the same house you're renting, most of the dumb rental laws go out the window. You can discriminate for any reason, and the eviction process is way simpler. I've never felt the need to evict anyone. Pick the right people in the first place, and you don't have those problems.