Brandon and Tracy both have demanding jobs and live in a beautiful $1,200 a month apartment. They’re considering buying their first home and have found two they like. Each costs $200,000; the monthly mortgage payment will be $1,298. The house they prefer needs a lot of repairs. To buy either, they’ll need most of their savings for the down payment and need to cut back on a number of things in order to pay the new monthly expenses.
Which choice do you think is best?