Is it worth it to borrow for a down payment? : RealEstate


I’m at the age where I am looking to move out of my parents house sooner rather than later. However, with my student debt it’s a bit difficult to save up for a down payment on a house. But in the city where I live, rent is astronomical and month-to-month it’s actually cheaper to buy a cheap house or a condo and make mortgage payments, the only obstacle is the down payment. From your experience, is it worth it investment-wise to borrow money for a down payment? Im worried about the interest of course but I figure the equity on the house would be worth it because property is worth a lot in the city I plan to move to. Any advice is appreciated!



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