Question: Should I take a home loan OR should I go on a rent….
> I am planning get married and live out on my own.
> Can some advice what’s best for me from their past experience about > life.
Answer: Over the long run, if you buy a house, your monthly payments will be lower than what it would cost to rent. It might be less expensive per month to rent right now, but this would change many years form now if you purchased now. Rent increases each year. A house payment is pretty much fixed from the time you buy.
Also over the long run, it is less expensive to wait and pay cash than buying now and using a credit card. Don’t use credit cards. Wait and pay cash.
Might want to plan ahead have a little patience. If you are living in a situation where you have little or no rent payments, might want to stay there and pay off those credit cards. Then save up money to buy a house. Then buy the house and get married.
Note that the biggest problem I see with marriages is financial problems. If you get married and place yourselves in a situation where you will have financial difficulties, I guarantee it will not be fun.
Of course when I was younger, I never listened to anything someone older and wiser told me. So I don’t expect you to follow my advice either! (Some things never change…)
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