« on: February 24, 2006, 08:20:20 AM »
Just seeking advise from folks out there that kow alot more about investment that I do.
This is my situation:
I currently own my own home almost 2 years now and it has accummulated a nice chunk of equity, I'm in Massachusetts. I know that I will be attending a law school in Boston, I live about 50mins to an hour drive to Boston but I don't want to commutte that far during law school especially during 1L.
Now I was considering renting in Boston or in a city close by that the metro(Underground rapid transit train) services. But a decent place will be costing me around 1200 a month. Over the weekend a friend suggested buying a one bedroom condo instead, if I do that it will be costing me around 1500 month. So will it be a good idea to rent my current home, already have a friend that won't mind renting it from me and buy the condo with the extra cost? I'm leaning towards doing that because law school is gonna take me 3 yrs and the least that can happen in that 3 years even if there is a bubble here is I will be building equity for that 3 years. Or will I be better off renting an apartment in Boston during 1L then moving back to my house and commutting during 2L &3L
Please share your thoughts on this my little dilemma.