Investing in property is the best option financially, only if you are capable of maintaining the property, or paying someone else to maintain it for you. If you buy a house and then let it fall to pieces, you will just lose money. If you aren’t handy, don’t have handy friends, and can’t afford repair people, an apartment would be better, because in an apartment you aren’t responsible for fixing things.
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How long have you been employed (or whatever you’re doing that provides you with $2K a month), and how stable does the next 5 years look? Do you gross or net $2K? Do you currently have any debt? What is your current FICO score? Do you have $15K for the down payment? Do you have at least $10K in savings? What are the property taxes? Is there an HOA? What does Zillow predict the zip code will do over the next year?
These are some of the questions you may want to think about in order to help yourself decide if you should rent or buy. Good luck either way.
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Are you serious , at those prices I’d go straight to buy with a mortgage.
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i’d get the house for sure =) well it depends how old you are though i think.
Personally I would get into a double wide trailer home ---- you can own it in 4-5 years better than an apartment and cheaper than a house …
I would go cheap as well, only spend around 25 grand for it, then you have extra for a nice car and after the trailer is paid off, a free roof over head 
Always Always own if you can. Look at it this way. If you rent for 10 years then move out that is it, all your money is lost. If you own (pay a mortgage), you can sell you house at the end of the 10 years and get your money back (possibly more).
Same goes with cars, I will never lease. I own my vehicle, so even if I don’t have a job or money no one is going to take it away from me. If you have a lease, and you can’t pay for some reason (You lost your job during the pandemic) they’ll take your car away.
Renting and leasing is just throwing your money away, you’ll never get it back because you don’t have an asset. Once you stop the rent/lease you lose your home/car and you’re out on the side walk with nothing.
Renting is only useful if it is going to be for a short period of time, like renting a house to live in during University or renting a car while on vacations, etc…
IMHO
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Cheapest houses in my area are prob 600k lol you a lucky one!
In vancouver the cheapest homes are like 1.5 million lol
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I dont think i’d get a mortgage right now due to the instability of the economy atm, idk how long it will be before the government cuts benefits, I wouldn’t even get a mortgage if i tried, i’d need a stable job for at least five years with a good income.
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if i had a plot of land that i could put a house trailer on, i would. but that goes against most zoning plans, cause most people dont like cheap trailers bringing down house values. also, if the land that i used had lot rent, i dont think i’d be saving much, cause lot rent the cheapest around here is 275 in small towns and 500 around the cities. add on 250 for utilities and more for maintenance, and more for having to drive my car more (my apartment is close to everything) and i’m just as well off having an apartment.
i’m surprised that no one pointed out the factor of being able to invest the savings if i rent. investing in a good index fund can make a person well off too. just depends on how long i can keep rent lower than the mortgage alternative. the truth, is in this situation it’s probably a close call which is better.
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