Should I buy a house?

[mithrandir2001]

Originally posted by: lilcam

Originally posted by: mithrandir2001
I wouldn't buy a low-priced rowhome in Philly right now. I know the kind of neighborhoods that have houses in that price range (you can't even buy into Mayfair or other mid-northeast communities) and those houses don't appreciate in value because people are tired of the blight and the crappy schools and the taxes...and many of those houses are in poor condition. In Philly, you either live in Center City, Chestnut Hill or the great Northeast....or you live in the suburbs.

Your apartment is hell because you are only paying $525/month for two people. A low rent like that attracts a certain kind of renter. A sad fact of reality is that you need to find places that price them out. With a combined income of $48K, you can afford more than $525/month. $800/month should be doable and you can manage to move into the lower-taxed suburbs.

Wait until you are married to buy a house.

EXACTLY my thoughts! I hate to live in some of the worse neighborhoods. I currently reside in the FAR NE around Bustleton and Philmont Ave and there are nice houses over there. Chestnut Hill is out of the question, and I hate to commit to a house over $100k making this much money.

I told my fiance (forgot to mention she's my fiance - i have to get used to it) that I would only get a house if I made it to $40k. But, apt living is nuts and I need out!

Heh? You are paying only $525/month and you live near Bustleton and Philmont (with Wawa and Sweeney's Saloon on the corner)? That's considered Somerton and it's not really a bad area at all. I'm surprised you can find rent that low so close to the suburbs.

If you want to move you can find a lot of places in Bensalem that wouldn't cost a whole lot more. Even Feasterville, just up Bustleton, has a few older but relatively decent apartment complexes that are affordable ($650-$800). And you wouldn't have to pay that stupid city wage tax, a definite bonus.

If you want to pursue the house thing, there's an condo community that was created from converted apartments...Hampton Crossing in Southampton 1/4 mile off of 2nd Street Pike. They are older (30 years), but a 2 bedroom place might set you back $80K and there's a good establishment of older residents there (which should make it quiet).