All Forum Posts by: Chris Toler

Hello,

I am 23 years old, and I currently have around $200,000 of free capitol and zero debt. I make a salary of $120,000/year (75K clear).

I work in NYC, and my work will be moving to NJ (but will still be close to the city). I have done my research and I think the Hoboken area fits the living/lifestyle needs I am looking for (fun night life, commutable to NYC/NJ, safe area etc). I do not know whether to put a down payment on a place or to just rent each month (given my situation). In the future if anything changes (work, family etc.) I plan to rent to property out in hopes to have a cash flowing asset, while gaining equity over the long term. 

Purchasing a house at this age seems scary, but then I think renting does not seem like the best financial decision. PLEASE HELP!!!!