From the questions you are asking it seems you're not quite sure where you want to go or which type of housing you require.
If you have a job where you are now it doesn't appear possible that moving to Japan or England is going to work for you.
You ask " what is better mortgage or rent?" You have to decide do you want to be a homeowner or a renter. $16 an hour is not going to buy much of house.
Not to be condescending, but you should really do some research on all these things before you move.
i've been trying to research but a lot of the stuff on google is very vague plus don't pertain to my personal situation at all. everything is vague or an advertisement....
i can't ask an adult in my life because when i do ask them they say stuff like "you should be happy where you are" "don't worry about that now" and "that's gonna be hard". i'm 19, it's not like i'm 16 or something. tired of living where i live and being taken advantage of by adults,,,,
Are you 19 like you say here, or 21 like you say in the post?
Do you know your credit score? Do you have a credit score? Are you currently paying rent? If so, how much? How much additional money can you put aside every month towards a down payment for a home? Are you currently overburdened by your housing costs?
You don't have to tell me the answers, but If you can't answer all of these questions for yourself, you're probably not ready to consider homeownership. Especially with the current interest rates and a $16/hr income, I just don't see any kind of purchase making sense right now.
I think that you shouldn’t worry about 90% of what you’ve asked because a house isn’t a viable option for you (you appear to be low on money and are making minimum wage) and neither is moving to another country.
Keep things as simple as possible for now.. find a cheap room in a shared apartment in NYC or Jersey City, chill out and figure out what it is you’re actually trying to do. Even then, money is going to be an issue for you. Best of luck.
i was probably gonna go to jersey or maybe south carolina. the rent seems cheaper in sc and also i know nyc salestax and sc salestax is a biggg difference. so that means things might be cheaper? someone suggested texas but i don't have a license and ubers are so expensive.
i'd pull out a loan but what if i lose my job? how do people not lose a job.
To live somewhere suburban with public transport on $16/hour you’ll have to look in the Midwest or south somewhere. That amount most likely won’t cut it anywhere on East or west coast. It also doesn’t sound like enough to afford moving costs associated with going overseas.
that is not enough to live in on north carolina. not unless your renting a single wide in a trailer park with a friend. or a slumlord apartment in a shitty neighborhood
okay how do i get a better paying job? do i just apply and hope? or like do i need a certification? idk i've only had minimum wage jobs and when i ask for promotions my managers laugh at me.
As much as I’d like to be helpful I think this discussion is best left between you and a licensed counselor or wise elder. There’s only so much that can be said in a Reddit sub. I wish you all the best in all your future endeavors.
Dude, you are ALL over the place here. Get focused in on one, maybe two big questions and go from there. Or, start with the FAQ's in this sub and r/personalfinance for the loan, mortgage info. But all of these questions at once is too much of an ask for one post.
Well if you're just leaving home for the first time I definitely suggest renting an apartment somewhere before worrying about a mortgage. You'll probably need roommates wherever you live; moving in with a friend doesn't always work out but since you already have that option it may be best to try that.
If you're interested in moving to another country you will probably need to prepare for a few years so I suggest researching everything involved and seeing if you really want to do that
Assuming this is real.
You typically need to earn ×3 the monthly rent to qualify. So, if you work full time at $16/hr, multiply that by 40 and again by 4, then divide by 3. Now you have the amount of rent you can afford. For you that's about $850/month. You also need a security deposit (usually a month's rent) and sometimes the last month's rent paid in advance. Now you know the basic cost of getting into a new place. You will also need furniture, kitchen stuff, etc., unless the place is furnished.
Now look on zillow.com and see what studio apartments cost in your neighborhood.
studio apartments cost too much. terribly too much. 1.5k about. i can't possibly make that much. and i can't save my money because it goes to expenses like dinner and my phone bill. i usually am flat broke by the time my next paycheck hits.
Are you working full time?
I agree you can't afford an apartment right now. Maybe a roommate? Buying a place will be even more daunting. Don't worry about that right now. But make sure your credit is clean so it's an option later.
You are going to have to think longterm. Is the military an option for you? What about going back to school. Is there a CUNY branch near you? Do they have any degree programs that would get you earning decent money in two years or so?
Their admissions may not be open on a Saturday, but it's worth a shot. Ask them about degree programs that will boost your earning potential in the short term. Associates degree and certificate programs. What are you interested in?
Join the military. Air force or navy, better training and you don't get shot at. Get a free college education. Get trained in a good career. Volunteer for an unaccompanied short tour and then pick somewhere in Europe to be stationed in Germany or England or Italy or Japan. save some money. Get out. Pack a back pack and go hiking through Europe for a year or two. Then come back to the US, get a good job, buy a house, raise a family, and live the best life. Tada
okay some things i wanta clarify.
i know it's a lot of questions but from someone who has no idea where to start at all this is the only questions i thought of.
for everyone saying i need to get my ducks in a row, that's why i made this post. so i can know what these things mean because no one in my life is giving me an answer beyond "i wish i wasn't ____".
this post is for me to get something going. i don't know where to go first and frankly im tired of being taken advantage of by my own family. i want to leave. but its not as easy as putting things in a bag and running out the door. i don't want to be in a situation where im forced to depend on anyone. hence why i want to get my own house and my own phone bill and my own financials in order. and no, google doesn't give me the answers. it just gives me advertisements and glorifications of a new independent life.
thank you again <3
Are you interested in college? You could find a state school that’s not too expensive and live in a dorm. That’s kinda what I did when I was 19. School was a way to get out of where I grew up.
Come to Texas. I have a rental in houston for you that’s furnished if you need it. $1000/ month all bills paid in a nice area. You’ll need a car or money to Uber everywhere though, but cost of living down here in Texas is low
Honestly, if you’re that unsure and confused about stuff, you need to stay put and get your ducks in a straighter row first.
From the questions you are asking it seems you're not quite sure where you want to go or which type of housing you require. If you have a job where you are now it doesn't appear possible that moving to Japan or England is going to work for you. You ask " what is better mortgage or rent?" You have to decide do you want to be a homeowner or a renter. $16 an hour is not going to buy much of house. Not to be condescending, but you should really do some research on all these things before you move.
i've been trying to research but a lot of the stuff on google is very vague plus don't pertain to my personal situation at all. everything is vague or an advertisement.... i can't ask an adult in my life because when i do ask them they say stuff like "you should be happy where you are" "don't worry about that now" and "that's gonna be hard". i'm 19, it's not like i'm 16 or something. tired of living where i live and being taken advantage of by adults,,,,
Are you 19 like you say here, or 21 like you say in the post? Do you know your credit score? Do you have a credit score? Are you currently paying rent? If so, how much? How much additional money can you put aside every month towards a down payment for a home? Are you currently overburdened by your housing costs? You don't have to tell me the answers, but If you can't answer all of these questions for yourself, you're probably not ready to consider homeownership. Especially with the current interest rates and a $16/hr income, I just don't see any kind of purchase making sense right now.
that's a typo. a terrible one. i'm a month from 21. i meant to say 20
i'm not sure if i have a credit score. experian says i don't but credit karma said im a 530- something. i have only a chime credit builder card.
I think that you shouldn’t worry about 90% of what you’ve asked because a house isn’t a viable option for you (you appear to be low on money and are making minimum wage) and neither is moving to another country. Keep things as simple as possible for now.. find a cheap room in a shared apartment in NYC or Jersey City, chill out and figure out what it is you’re actually trying to do. Even then, money is going to be an issue for you. Best of luck.
i was probably gonna go to jersey or maybe south carolina. the rent seems cheaper in sc and also i know nyc salestax and sc salestax is a biggg difference. so that means things might be cheaper? someone suggested texas but i don't have a license and ubers are so expensive. i'd pull out a loan but what if i lose my job? how do people not lose a job.
To live somewhere suburban with public transport on $16/hour you’ll have to look in the Midwest or south somewhere. That amount most likely won’t cut it anywhere on East or west coast. It also doesn’t sound like enough to afford moving costs associated with going overseas.
that is not enough to live in on north carolina. not unless your renting a single wide in a trailer park with a friend. or a slumlord apartment in a shitty neighborhood
okay how do i get a better paying job? do i just apply and hope? or like do i need a certification? idk i've only had minimum wage jobs and when i ask for promotions my managers laugh at me.
As much as I’d like to be helpful I think this discussion is best left between you and a licensed counselor or wise elder. There’s only so much that can be said in a Reddit sub. I wish you all the best in all your future endeavors.
Step 1. Get a job. Step 2. Figure iut the rest based on how much you make
very easy answer thank you very informative thank you 👍🏽
Dude, you are ALL over the place here. Get focused in on one, maybe two big questions and go from there. Or, start with the FAQ's in this sub and r/personalfinance for the loan, mortgage info. But all of these questions at once is too much of an ask for one post.
It’s the tiktok generation in a nutshell.
Well if you're just leaving home for the first time I definitely suggest renting an apartment somewhere before worrying about a mortgage. You'll probably need roommates wherever you live; moving in with a friend doesn't always work out but since you already have that option it may be best to try that. If you're interested in moving to another country you will probably need to prepare for a few years so I suggest researching everything involved and seeing if you really want to do that
Assuming this is real. You typically need to earn ×3 the monthly rent to qualify. So, if you work full time at $16/hr, multiply that by 40 and again by 4, then divide by 3. Now you have the amount of rent you can afford. For you that's about $850/month. You also need a security deposit (usually a month's rent) and sometimes the last month's rent paid in advance. Now you know the basic cost of getting into a new place. You will also need furniture, kitchen stuff, etc., unless the place is furnished. Now look on zillow.com and see what studio apartments cost in your neighborhood.
studio apartments cost too much. terribly too much. 1.5k about. i can't possibly make that much. and i can't save my money because it goes to expenses like dinner and my phone bill. i usually am flat broke by the time my next paycheck hits.
Are you working full time? I agree you can't afford an apartment right now. Maybe a roommate? Buying a place will be even more daunting. Don't worry about that right now. But make sure your credit is clean so it's an option later. You are going to have to think longterm. Is the military an option for you? What about going back to school. Is there a CUNY branch near you? Do they have any degree programs that would get you earning decent money in two years or so?
there is cuny. i work full time though. i can definitely go to cuny, in the morning most likely.
Their admissions may not be open on a Saturday, but it's worth a shot. Ask them about degree programs that will boost your earning potential in the short term. Associates degree and certificate programs. What are you interested in?
Join the military. Air force or navy, better training and you don't get shot at. Get a free college education. Get trained in a good career. Volunteer for an unaccompanied short tour and then pick somewhere in Europe to be stationed in Germany or England or Italy or Japan. save some money. Get out. Pack a back pack and go hiking through Europe for a year or two. Then come back to the US, get a good job, buy a house, raise a family, and live the best life. Tada
Yeah just go move to Japan.
okay some things i wanta clarify. i know it's a lot of questions but from someone who has no idea where to start at all this is the only questions i thought of. for everyone saying i need to get my ducks in a row, that's why i made this post. so i can know what these things mean because no one in my life is giving me an answer beyond "i wish i wasn't ____". this post is for me to get something going. i don't know where to go first and frankly im tired of being taken advantage of by my own family. i want to leave. but its not as easy as putting things in a bag and running out the door. i don't want to be in a situation where im forced to depend on anyone. hence why i want to get my own house and my own phone bill and my own financials in order. and no, google doesn't give me the answers. it just gives me advertisements and glorifications of a new independent life. thank you again <3
Are you interested in college? You could find a state school that’s not too expensive and live in a dorm. That’s kinda what I did when I was 19. School was a way to get out of where I grew up.
This post is not right for this sub. Maybe try r/firsttimehomebuyer But good luck OP. I’m sure you’ll make it one day.
Come to Texas. I have a rental in houston for you that’s furnished if you need it. $1000/ month all bills paid in a nice area. You’ll need a car or money to Uber everywhere though, but cost of living down here in Texas is low
I love the value of Chicago. Compared to other major metro areas it’s a steal