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Updated about 7 years ago, 09/03/2017
Advice on Buying vs Renting as a 25 year old living at home
Hey guys,
My name is Josh and I'm new to bigger pockets. I am a 25 year old who works at a startup internet marketing company in Sorrento Valley. I have been living with my parents after moving back to CA from Alabama to save money and figure out the best strategy for my living situation here in San Diego.
I guess I need some advice from investors who are familiar with the San Diego market. I was originally planning to try and buy a condo or home in San Diego and rent out another room or 2 to help pay down the mortgage instead of just renting.
I am wondering what other investors think the smartest thing to do for a living situation in San Diego would be to build wealth over time? Does it make sense to buy here and rent out the extra room or 2 to lower my monthly payment while building some equity or is renting smarter and using that extra cash to invest in other properties or businesses better?
Either way I will either have to pay rent or a mortgage when I move out just trying to figure out the smartest way to go about it!
Thanks