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I'm currently renting a home in Budapest and about to reach a point where:

cost of rent + other running costs of it - income from savings > cost of 10 yr loan + running costs of new home

The left side increased because the landlond increased the rent, it's still somewhat below the market price though.

So basically if I were spend my savings into my own home as downpayment in the suburbs, my net monthly expenses would decrease.

Since I believe my job will always tie me to the capital city, I don't really expect to move away unless there is something really bad happened (like a war or getting kicked out of the EU).

In this situation should I go for it and buy my house or are there any other things I should consider before the purchase?

EDIT: I checked the other question marked as dupe, it doesn't really answer the question I'm asking. That is if the net monthly expenses right would be smaller than expenses of renting, then should I buy now? Also those answers are more than 8 years old now and they are outdated as we are no longer in recession but exactly the opposite. Also the housing prices are skyrocketing in Hungary especially in Budapest and in the suburbs. So there are really lot of money in stake, and I don't want to burn myself. And want to make sure I'm about to do the right decision.

marked as duplicate by NL - Apologize to Monica, Pete B., Rupert Morrish, Dheer, MD-Tech Nov 28 '18 at 10:53

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