Hello, I love the page! I am a bit conflicted on whereas how I should go forward with my personal investing. I appreciate all input I can get.
A little backstory; I (21M) currently live in a rental apartment in Sweden with my girlfriend (20F). I work in a steel plant and make about 2800$ a month after taxes. The rent is about 800$ a month and we split the cost of it and other necessary goods (food, insurances, car etc.) I currently save about 1000$ – 1500$ a month and put the money in index funds.
So here’s the dilemma, if I would take a loan to buy an apartment for about 60 000$ – 200 000$ dollars I would save about 5000$ a month just in rental cost (the total cost of the apartment varies depending on if you want a great location or not with higher price developments). In Sweden we currently pay about 1.8% of the loan in interest a year. Of course there are other costs like mortgage etc.
So the question is, should I keep investing in the stock market for a couple of years or should I wait one to two years, save my money in the bank for the down payment and buy an apartment? Thank you, appreciate the great content.