A question that has been spooking through my head since almost a year now is to buy a house.
This is probably one of the biggest investments people ever make in their life. That’s why I want to think and overthink very well about it. I’ll briefly explain my situation:
I’m turning 21 soon and I study in Brussels. I still live with my parents. Starting next year, my working hours will be 07h30 untill 16h00, working/studying 5 days a week. Due to the very bad traffic hours, going back and forth home every day isn’t an option. This would mean spending 3 hours every day in the car + it would cost me on average 16 euro a day to do the double trip.
Now there are 2 options left: first is stay in the school every day, just like before. However I prefer to have a strict limit between work and home. Last 3 years I already spent 5 days a week at my very small room in the school and the weekends are damn short. I feel like I don’t have a control anymore over my personal life as everything I have to fix or settle at home has to happen in a short 2 day range.
Other option is that I would buy an appartment or house in the neighbourhood of my school and my future job place ( which is 90% sure). This way I could go home everyday to my own place and have a more ‘normal’ life.
Now my financial situation:
My complete net worth in August will be around 100,000 euro. From this there is 40,000 euro fixed in shares, which I don’t intend to sell in any case. I love my shares :D.
I earn 1,580 euro net a month right now. 2 years from now, my net monthly job income will be around 2,100 euro. I also want to keep on investing on a decent rate.
Now my question is, do you guys think it’s a good idea to buy something already? How about your costs of owning a house/app? How much do you need /month for the basic stuff such as electricity, water, gas, internet… In my point of view, renting means losing money if I have to do it alone (better to split it with someone but not a possibility yet).