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Buying a Home for Current Needs or Future Needs.

Started by money2012, May 05, 2019, 01:12:54 PM

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Looking to buy a home in the next 1-2 years. Based on the Financial Samurai 30/30/3 Rule I could buy up to $600K and am contemplating the three options as described below:

1. One-Bedroom Condo
- cost would be between $250K to $350K
- works for current living situation at 30 years old with girlfriend but would only live here for a few years and could then use as a rental when move into larger home
- this option would allow for maximized savings over next few years

2. Two-Bedroom Condo
- cost between $350K to $425K
- works for current living situation and having the spare room would be nice for additional storage and for when guests visit which is often
- would likely stay for at least a few years and would likely live here longer than compared to a one-bedroom as this place could fit a kid if that is something that happens down the road
- could also keep this as a rental after moving out in the future

3. Three or Four Bedroom House
- cost between $450 - $600K
- Too much house now but could commit to living here 10+ years and lots of room to grow into
- higher monthly costs upfront but limits moves and additional costs associated with multiple property purchases

Hard to predict the future and what I will want down the road but trying to determine the best route that balances current needs and future needs/wants while maximizing things from a savings and financial perspective now.


If you have a gf already, I definitely WOULD NOT buy a 1 bedroom condo.

Buy at least a 2/2 condo or house. Life is better when you have that extra room. And even if you have a kid, a 2/2 condo is fine and can be easily buy you 10 more years of comfortable living.