Asked by Natberry, 11203 • Wed May 5, 2010
I'm planning on moving to State College, PA to begin my PhD and the idea of paying rent makes me sick! I won't be making tons of money while there but I'm expecting to be there for at least 4 years. I was considering buying a townhouse or Condo and when I graduate & begin working I can rent it to people that are moving to the area. I'd prefer a townhouse or condo for many reasons one being: I don't want to shovel snow or cut grass while I'm working on this degree.
This will be my first home and I will most likely be bringing my mother along with me. I currently work in NJ and I make about 45k per year, have I saved that amount....NO I haven't. I know I've missed out on the 8K tax credit but I'd like to take advantage of the low interests rates if I can. I plan to move in August and I just need some honest advice about the situation. Is renting the better option since I'll be living off of my stipend (less that 17k) and student loans?
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