Right now I live an hour and a half away from work and I need to move closer.
I was looking to purchase a home. I got prequalified by myself but my boyfriend was going to live with me and pay half of the bills. He moved out so I'm on my own and I'm worried that even though I got prequalified, I won't be able to afford it.
However, when I look at renting apartments closer to work, they are much more expensive and not as nice as the townhome I'm renting right now.
I don't want to downgrade from my townhome to a small apartment but I don't want to get in over my head by moving into a small apartment.
The amount that I got prequalified for will put my monthly payments around $120 more than my rent plus any homeowner's association fees (which will be about $100 since I'm looking to buy a townhome).
What is the best decision? I feel like I will be throwing away money by renting.