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Life decisions, advice?


Lucha

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Hi everyone, could use some advice regarding my current situation. I am a 28 year old, working as a doctor in a hospital. For the past three years I have rented a place in the city I studied in and also close to where I work. However, in the past few years all of my friends have moved out of town (graduated as doctors and settled elsewhere). I have been feeling very lonely in the city I live in. On top of that, the appartment I rented had many, many issues. The rent is high and there are issues with humidity (mushrooms growing in my badroom for crying out loud), noise, cracks in the wall, bugs, tiles coming off in badroom, kitchen stove not working properly,.. all of which my landlord did nothing much about or it took an eternity.

 

So I decided to stop the rent. I figured I would find something else easily, but I also wanted to take my pet cats who still live witj my parents and move them with me - bc my family situation is not safe for them. Different story - in short, my mother has some (in my opinion, serious) mental issues and is not capable of taking proper care of them all the time.

I come to discover almost NO landlord allows pets in a rented appartment. I am very much surprised. Renting without taking my pets with me this time is not an option for me.

 

So I am now living -temporarily- back at my parents place while also looking into buying a small flat, since my age and considering the investment, but I feel confused. There is not a place that really attracts me and my main motive would be to escape my toxic family situation.

 

So many questions, should I buy, should I rent (which is for at least another three years- contract), keep living with my parents in an unhealthy situation..

My work situation is that I need to work another 1,5 year in that city, and then I need to switch hospitals which is still unsure.

 

I am pretty much on my own, no relationship and not waiting for it.

 

Any thoughts would be welcome, since I am really stressed out about the living back at my parents at the moment and unsure how to proceed.

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How is the property market? Meaning if you have means to buy, can you just as easily sell and get your money out? Because if selling is fairly easy, then yes, you should buy. That way it's kind of like an investment rather than burning money on rent. You can also rent it out if you want to move, etc. Just be sure there are no rules against renting your property out and no restrictions either. You can also have a roommate to offset some of the purchase costs.

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Rent until you are sure where you'll be working. Perhaps try different situations that may accept pets, are affordable and decent such as sharing a house or renting in a private home,etc.

 

The mental health issue with the parents will mess you up more than some fungus in a bathroom or having housemates.

 

Just keep an open mind as to types of living arrangements that may offer more flexibility for your pets and lifestyle, etc. Search online or ask around work, trusted neighborhood friends, stores, local paper,etc

So many questions, should I buy, should I rent, keep living with my parents in an unhealthy situation.. My work situation is that I need to work another 1,5 year in that city, and then I need to switch hospitals which is still unsure.

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How is the property market? Meaning if you have means to buy, can you just as easily sell and get your money out? Because if selling is fairly easy, then yes, you should buy. That way it's kind of like an investment rather than burning money on rent. You can also rent it out if you want to move, etc. Just be sure there are no rules against renting your property out and no restrictions either. You can also have a roommate to offset some of the purchase costs.

 

I don't know a lot about the property market here, but the way some people explained to me is that it wouldn't be wise to buy if I am not planning on living there all my life. For instance if I would want to move out in five years and let's say, buy a house and sell the appartment, it could be a financial loss. Then again, renting is pure loss as well..

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I would use a two pronged approach. I'd work with a realtor to help you find either a rental that accepts cats or a property near the hospital that you could buy and possibly rent a room to another hospital worker. Then if you need to change hospitals, you can rent your current room to another tenant if you're unable to sell and hire a property service to author the leases, collect the rents and ensure maintenance.

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a property near the hospital that you could buy and possibly rent a room to another hospital worker.

 

This ^^^ is gold. Buy in a rentable location. My home is 3 bedrooms and in a rentable downtown. I've had two tenants living here with me and covering my mortgage for the past few years. And I know if they move out, there will be a line of others because it's a desirable property and location. If you have the down payment money and decent credit, it is worth it to do this, or at least put the feeler out to a realtor who can start looking for such a property for you.

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