House Rich but Cash Poor or House Poor but Cash Rich?

[DrClapeyron]

Today I was looking at apartments. I want to move to the inner city where the night-life scene is very big. Some of the newer complexes I looked at were quite expensive for my budget. I know there is a "don't spend more than 1/3 of your monthly income on rent" rule, but even though some places met the 1/3 rule I felt they were too much.

So that begs the question: should I get a place that is relatively new, great location, and 1/3 my monthly income, or should I go with something more modest?

The more expensive places included hardwood floors and balconies. Also, security looked better at the more expensive locations.

 

[256bits]

You don't have a choice of "house modest" and "cash modest."

And then you will go buy a car and spend 1/3 of income on payments.

It all depends on how much disposable income you do have to play around with.
It is a personnal choice, so I did not vote.