Asked by Nader444m, 90210 • Wed Jul 29, 2009
In reference to the above question, I have been thinking about whether to buy or rent a home in the Beverly Hills or Bel-Air area. First, I am 20 years old and I have a lucrative business that I consider my job that makes around a $100,000 a year. I have been looking at homes in Beverly Hills and Bel Air and I like some of them (I'm looking in the $2-3M range) and my only problem is that I don't know if I'm making enough to afford a home around that price or if I should look under a million dollars and also since I am 20 I don't have much credit established other than a few credit cards that I have.
So is it difficult to get approved or is possible or impossible? And I was also thinking about leasing a home in these areas long-term but I'm not sure if I would just be throwing my money away or paying someone else's mortgage. Any 2 cents would be appreciated. Thanks.
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