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I dont have a family i might have mistakenly said that i meant i do want a family in 2-3 years.
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I dont have a family i might have mistakenly said that i meant i do want a family in 2-3 years.

Okay, even if I rewrite the phrase

I know it is not a long term strategy as i have a family of my own but i think it might work in the short term?

as

I know it is not long term strategy as I want a family of my own in 2 - 3 years, but I think it might work in the short term?

I will give you the same advice. In most real estate markets the frictional costs of buying/selling, along with the additional costs of ownership, such as maintenance, repairs, taxes, insurance, etc. will end up losing you money compared to rent if you only own a home for 2 - 3 years.

You really need to look at the rent vs. buy calculators for your area and see if your area is one of the few markets where owning a home for a 2 - 3 year timeframe would be financially advantageous to you. Unless you are in an area that exhibits characteristics of a bubble market, and you manage to time the purchase/sale correctly, it probably won't.

I would still suggest that renting a larger place with a roommate might be a better way for you to actually save money, until you can commit to purchasing a home for the long term.

AJ
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I'm wondering if you assume you need to own a home to attract a mate?

That wouldn't be one of my criteria. I would, however, want someone reasonably financially savvy--ie, saving for retirement/next car/efund, and not in debt (except for possible comfortably afforded mortgage and/or school debt). If I loved someone with CC debt, I'd probably insist on them paying it off before marrying.

So my advice: to attract a mate, pay off your CC debt, then worry about a house. Which might be more fun to buy with your future mate so it meets both of your needs with respect to size, commute, amenities.
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What if you meet Ms/Mr Right - and they already own their own place?

What if you meet Ms/Mr Right - and they live in some other state/country that you would love to move to?

IMO the main question of "rent vs buy" is - do I want to live in this condo/TH/House for the next 5-10 years ('cause who knows if you can sell or even rent it out at a profit)

And if you're hoping to meet and marry Ms/Mr Right in the next 2-3 years - not only would I NOT be looking to buy something where I had to get a roommate to afford - I would want to relish the time I have now to live single and turn the thermostat to what I want to, or clean the dishes when I want, or stare at an open 'fridge door without another adult making any comments about how I live.
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If I loved someone with CC debt, I'd probably insist on them paying it off before marrying.

Back when I was dating my wife, I had $1600 owed on a credit card from buying a computer with it. Before I ever proposed, she mentioned she wouldn't marry me if I had consumer debt.

I already knew she was smart, pretty and kind. But they day she told me that - that's the day I knew she was the one.

xtn
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<<If I loved someone with CC debt, I'd probably insist on them paying it off before marrying.

Back when I was dating my wife, I had $1600 owed on a credit card from buying a computer with it. Before I ever proposed, she mentioned she wouldn't marry me if I had consumer debt.

I already knew she was smart, pretty and kind. But they day she told me that - that's the day I knew she was the one.

xtn >>



Exchanging credit reports should be one of the things couples do shortly after they become engaged, in my opinion.



Seattle Pioneer
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Exchanging credit reports should be one of the things couples do shortly after they become engaged, in my opinion.

Not just exchanging reports, but also having a financial discussion. Will they have separate checking accounts, share an account, who will pay the bills, how much casual spending money each one will have, and so on. That's the sort of information they need in the future.

One one of those "Big Spender" shows where they help people get out of debt, a couple was being interviewed to find out if they would be on the show, and when they were asked, "who pays the bills?" they stared at the interviewer, then at each other. It was immediately clear where the problem was.

Nancy
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