Also, please keep in mind that the banks are “for profit” institutions. They only offer lower APR to customers they want to do more business with in a significant way. These are not just good credit scores but a long history of good credit, high income, serious assets, etc. Its way more than just a good credit score to get preferred treatment.
Very True. I would say to buy only what you truly need and to buy with the awareness of seeing if it's affordable to pay it back in a timely matter. I would also say something that has helped me, is avoid finding trend and buy only true necessity. Great job and Great point
I know to some of u this might sound strange. But how do people make it in Nevada? Particularly the reno/ carson area. Where I'm from rent is 600 to 700 a month. Here it's 1200 to 1500 dollars a month for a nice 2 bed 2 bath apartment. Do a lot of people have room mates? I know for people in certain parts of California that's good compared to the rent they have to pay. But I live in a state with one of the cheapest rent and housing. I don't see the majority of jobs that pay more than what I do now. I would definitely want a room mate so I could still save for the ranches. I know the south is cheaper than up north or out west. But the jobs are about the same.
You are still young Sakaki, but have you thought about purchasing a home, be it a house, condo, townhome, etc. where you currently live rather than looking to move to pay rent? If you are building up your credit score, it might be easier for you to qualify for a loan, except that the mortgage companies might also look at your length of employment with any one company. Paying your credit card bills is one thing, but having a mortgage payment, like rent, which is usually month to month is a bit different. Building up home equity at your age might be good for you in the long haul, even if it is in the current area where you live and not where you eventually want to be. When it comes time to move, you can sell your home or rent it out. In the Reno/Carson City area there is a great need for affordable housing. Very few apartments are being built in the area, and median home prices are $420,000 in Reno. There is a lot more new construction of homes for sale in the area because there is a lot more money for the developers to make. With more high tech and high paying jobs like Tesla and Panasonic coming into the area, those workers want a nice place to live and have the money. There is no rent control. I have heard rent prices going up every year but never going down. "Just six years ago, the average rent in the greater Reno metro area was $822 per month" according to the Reno Gazette Journal article https://www.rgj.com/story/money/bus...no-apartment-evictions-rent-hikes/3672442002/ and "Since then, the average rent skyrocketed to $1,316 in the first quarter of 2019." That's almost a $500 per month rent increase in 6 years. It might just keep going up much higher at that rate. When the article talks about no-cause evictions, that sometimes happens when property gets sold to developers that have other plans for the land and they want the renters to vacate. Have you ever had a room mate to share rent and expenses? If you sign a lease and your room mate loses their job or has to move or hates living with you or vice versa, you will be stuck paying all of the living expense if you can't find an immediate replacement. Up and leave? It might ruin your credit score and make it difficult if not impossible to rent another home nearby since they often look at your credit score too. I go to casinos a lot, and I often hear of their employees complaining about their jobs or something, and many times they leave. Something to think about when looking for a room mate, how dependable are they?
Ive been looking at mobile homes and i think it be way more affordable for me than a house. Its just me so i dont need much.
I don't think a mobile home will appreciate in value like a house. The market always fluctuates so prices will come down eventually.
I'm not worried about that I just want somewhere cheap and affordable to stay. I can't see myself paying 300k for a home.
I kinda want overboard with my credit card. I had a lot of fun at the ranch. I don't regret it but something like my trips i need to have a budget and stick to it.
There are a lot of adjustments to make when moving to an area with a higher cost of living. This can mean looking into a single apartment instead of a two bedroom, or renting a room from someone with a large house, or getting a second job to make ends meet. It might not be easy at first, but it can be done. Good luck!
