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Post Law School Question
Posted: Sun Feb 06, 2022 9:52 am
by MK2021
Hi everyone,
I know this isn’t about legal employment but many of you graduated from law school and have had to make the decision I’m about to make. I just want to make sure it is a smart decision and am doing everything to gather the information I need. Is it better to rent when you graduate from law school or buy a residential home as soon as possible so I’m not wasting money on rent? Thank you I really appreciate any advice.
Re: Post Law School Question
Posted: Sun Feb 06, 2022 2:21 pm
by Dahl
Impossible to really answer this without knowing 1) your city 2)your loan/current debt situation and 3) your long term plans. It may make sense to keep renting if your rent isn’t exorbitant and you’re using your extra income to pay off high interest student loans. It all depends.
Re: Post Law School Question
Posted: Sun Feb 06, 2022 4:26 pm
by Anonymous User
Dahl wrote: ↑Sun Feb 06, 2022 2:21 pm
Impossible to really answer this without knowing 1) your city 2)your loan/current debt situation and 3) your long term plans. It may make sense to keep renting if your rent isn’t exorbitant and you’re using your extra income to pay off high interest student loans. It all depends.
Yes, you are right. I didn’t know if anyone had general advice but I think what you are saying is valid and I don’t feel comfortable talking about my financial situation on here. Thank you for the feedback I guess no more need for this thread.
Re: Post Law School Question
Posted: Sun Feb 06, 2022 4:27 pm
by MK2021
Anonymous User wrote: ↑Sun Feb 06, 2022 4:26 pm
Dahl wrote: ↑Sun Feb 06, 2022 2:21 pm
Impossible to really answer this without knowing 1) your city 2)your loan/current debt situation and 3) your long term plans. It may make sense to keep renting if your rent isn’t exorbitant and you’re using your extra income to pay off high interest student loans. It all depends.
Yes, you are right. I didn’t know if anyone had general advice but I think what you are saying is valid and I don’t feel comfortable talking about my financial situation on here. Thank you for the feedback I guess no more need for this thread.
Accidentally replied as anon I am the OP that responded
Re: Post Law School Question
Posted: Sun Feb 06, 2022 4:47 pm
by Anonymous User
I have nothing concrete to add but I’d recommend googling ‘NYT rent vs buy calculator.’ That should bring up the NYT’s interactive tool. The relevant factors are going to vary from market to market, individual to individual, etc., but the tool should give you a feel for some of the financial parameters that matter most (mortgage rates, rents, rate of return in public markets, and so on).