What's it like being a home owner?

We all know that the cost of living is rising, pay is not, for the most part.

I worry about the increasing price of rent, especially while being single.

I'm wondering if I should start planning on buying a "fixer -upper" in the next few years since a monthly mortgage payment is cheaper than apartment rent.

I understand I'd have to get everything that breaks down, fixed in a house.

I'd have to pay property tax, and higher bills.

Any thoughts or advice?

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4meAndyou · F

Financial experts are advising people to continue to rent right now, if they are renting. Interest rates are 7 percent or more in most states, and you would need a 10 percent down payment plus closing costs even for a fixer upper.

If you are strapped, consider downsizing your apartment to a studio...or move to a cheaper area in your city.

iamnikki · 31-35, F

@4meAndyou a cheaper area would be unsafe areas, not going there. I had already decided that a studio is not an option. I don't want to see the refrigerator, nor hear it while trying to sleep.
I was planning on moving at the end of the year but I don't see any apartments cheaper than the one I'm in, unless they are in bad areas, apartment themselves look rundown. I've seen studios for the same price or more.