yeah....my friend bought a condo. i didn't ask how much it was, thought it'd be kinda rude to dig my nose in that deep. but i'm assuming it was around $270K give or take. i'm not sure how much he put down either. i'm sure it was at least 10%, so at least $20K, he's paying $176/weekly. that's cheaper than what i pay on my car...haha but mind you he is an accountant and used to work at a bank so i'm sure he's got all of his numbers straight and disciplined himself so he would achieve comfortable financial standards
$176 per week is cheaper than you pay for your car...? That means you spend over $700 per month on your car? That might not be a "good debt" to have if you're trying to buy a home, if I'm reading that correctly.
As far as the $2,000 fridge, that was just an example. Whatever the cost is - it costs more than a landlord paying for it.
Something you could consider that could help you out if you do decide to buy a home is to get a 2 bedroom place and rent out one of the bedrooms to a friend. Getting an extra $400-500 per month from a buddy will definitely help out a $1500 per month mortgage.
Lastly, I'm just gonna list some other monthly costs to consider, as you might not have to pay for these things currently if you're living at home:
- gas (heat/stove)
- TV (cable/satellite)
- xbox live membership
- property taxes
- homeowner's insurance
- HOA fees (if condo)
- your car payment
- your car insurance
- your car maintenance (oil changes, new brakes, new tires, any fixes required)
- retirement savings (401k, IRA, etc.)
- furniture you'll have to buy
- pots/pans/cleaning items
Just some things to think about. Here's a quick google search for some things to consider: Don't forget about these 20 costs of home ownership - USATODAY.com
After you deduct all of those from your paycheck, do you still have enough money or time to do anything fun? Do you have enough money to buy a new snowboard? Season Pass? Even a single day lift ticket? Not that snowboarding is the most important thing in life, but realize you'll have to make some sacrifices to become a homeowner.