Imagine being a single parent having sole custody of your two young children. You’re trying to save but the West coast cost of living doesn’t lend itself to your budget . You do not receive any child support and have had to rebuild everything you have now. Your family currently rents, and you feel as though you’ll never be in a place where you can afford to buy. You’re also worried if you don’t buy within a few years, when you go to retire, you’ll be left with too many years remaining on a mortgage.
Will you ever be able to buy again? Or is it less expensive for you at this time to continue renting vs buying?
This is Lucy’s question.