Looking to make 1st purchase

[Andrew F.]

Need some advice on my current situation:

My current rent is $800

Ive been in the market for my 1st Rental Property or my 1st Home to live in.

Ive found a nice townhouse to live in that is fully renovated, has a big living room & kitchen, and move in ready. Only problem is it will increase my expense from $800 a month to $1,800 + amenities. Im currently single, live by myself, and have no kids. The townhouse is a 3/2 so I can use the extra rooms as an office and guest room. My point is I really don't need extra rooms, however, I can find use of them.

if you were in my position, would you increase your monthly expense and buy a place to live? or, purchase a Rental Property in hopes of someone paying your mortgage and making an extra $200-$300 a month of rental income?