Flying the nest: rent or buy? 🏡🏙️
Okay. So I’m starting the long financial stage of the separation process. I’m currently living in the family home attic, a la that old book, Rebecca. Ha. I don’t want to stay in the attic forever. I’ve made appointments to speak with loan consolation programs in the hopes of saving my credit score. So the banks may make my decision for me, however, I’m curious if anyone has thoughts on buying something small with the payout on the remortgaging on the family home and letting my stbxh stay there OR investing the payout (max 70k CDN) for a year and rent. Trouble is, rent in Montreal is higher than mortgage payments.But renting buys me time. I’m not dating so there’s not huge rush except for the fact that I want to get on with my life. :/ thoughts, suggestions?
Thank you, friend. I appreciate your feedback. :)