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

  1. House rich but cash poor

    1 vote(s)
    25.0%
  2. House poor but cash rich

    3 vote(s)
    75.0%
  1. Dec 17, 2011 #1
    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.
     
  2. jcsd
  3. Dec 17, 2011 #2
    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.
     
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