Here's the deal:
- 21 years old college student (school paid for)
- Approx $4,000 in debt.
- Make approx $1000 - $1200 a month.
- Pay approx $450 for my half of rent includ. utilities.
- Want to buy a house (because rent goes toward nothing)
Is it worth it now to start saving for a house?
When did you buy your first house anon?
Any regrets?
What helped you save money?
Please share you experience me anon.
>>17118804
>Is it worth it now to start saving for a house?
Always. Also you need to be putting money into retirement accounts.
>When did you buy your first house anon?
When I turned 30. I had been in my career job for 5 years and had no other debts and I had great credit.
>Any regrets?
Nope.
>What helped you save money?
Living within my means. Always putting away at least a thousand dollars a month for house and retirement savings. I'm a pretty boring person. I don't enjoy going places for vacation and I only go out and do something "big" a couple times a month. By big, I mean a concert or something like that. So I have very few leisure expenses/needs.
>Please share you experience me anon.
You need to be completely sure you want to remain where you are. reselling your home is a pain in the dick. Do not purchase a home if you think for even a second that you will want to move or pursue lofty goals in some other city. For me, I knew I always wanted to stay in the city I graduated college in. I will fight to stay here, even if I lose my current job. That made me secure in purchasing a home, because I knew I had no desire to go anywhere else. I will only move if I simply cannot find work in the future.
Also, do not purchase a home until you have been secure in your career job for at least a year. After a year, you can breathe a sigh of relief that your employer doesn't hate you. You can still get the axe at any time, especially if you're in an industry that's very vulnerable to downsizing/economic loss. But that's for you to decide.
>>17118819
Thanks anon. That the possibility of moving later on is something I hadn't considered.
>>17118819
How did you decide to stay in that city? I'm a military brat transient great recession kid with crippling debt who can't find a place I want to stay in. I've lived many places.
Pay attention to housing markets.
Foreign cash is making a number of housing markets inflate. In a decade or two, they'll collapse, and your "$400,000" house will turn into $200,000, and you'll have effectively pissed 200k into the wind.
>>17118947
PREAAAAAACCCHHH
Denver, Colorado - you want me to pay $400K for what? What in the actual fuck?
>Head down the University
>What the hell where did all of these asians come from?
>Look at foreign investment into downtown
>MY GOD they're coming for us everywhere!
