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You are smart. The problem is women will try to convince you into buying the "nest" for your future happy family. I would suggest you sock away a chunk of change in a Roth IRA asap and then save for the down payment.
Only if he goes for a dumb woman, but if she has a nice body, men usually do. A smart woman who wanted a family with him would seek a reasonably priced home with enough room (a one bedroom isn't good if you both want two kids) , but not fall prey to all the stuff that goes with it. School districts are not worth debt slavery, when there are online schools that are free or very cheap, yet provide a good quality education. So long as a car is safe and suits it's utilitary function, it's best to get the least expensive, regardless of what the broke neighbors think. Learning to do basic maintenance (both of them) is a must; professionals handipersons are for cracked ceptic tanks, not clogged toilets. The female desire to have a nest and raise a family is not the problem; it's the imaginary lifestyle that goes with it that bankrupts.
everything
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2011 Dec 7, 7:22am
Don't even think about worrying what others think about what your doing, your parents know they can kick you out anytime, they know it's temporary, and they also know things are not getting any easier for the younger generation. Be glad you've got the option and make the most of it.
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There are two ways to beat the banks, as I see it: minimize the amount of debt one accrues over one's lifetime, and pay down debt faster than the schedule dictates. A mortgage is for most the biggest debt they will assume. I'm trading in some pride and independence and recently moved in with my parents to save money for a down payment. I feel pretty emasculated by this, since I'm in my late twenties, but then again I have a couple friends who overextended themselves and have already been foreclosed on. Where I live in Chicago, landlords were jacking up rents because so many people are renting now. I guess I stayed ahead of the slave drivers again (didn't buy during the boom), but at the loss of some dignity. My planned downpayment will exceed 20% and I hope to get a ten-year mortgage for the remainder and pay that at an accelerated pace. The price of the property I buy will not exceed 3x of my income.
#housing