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Just keep saving up. You are likely to get at least a few pay increases over time and that will help you save up faster. Also at your age, it's not unlikely you will get married in the next few years, and as long as your bride is financially sound, with the two of you saving up together, you can save up even more.
Just keep saving up. You are likely to get at least a few pay increases over time and that will help you save up faster. Also at your age, it's not unlikely you will get married in the next few years, and as long as your bride is financially sound, with the two of you saving up together, you can save up even more.
Depends greatly how much of those savings get blown on a big, fancy wedding .. seems to be a pretty popular trend!
1) Why are you so eager to buy a home? Renting is the cheapest way to go for young studs. Invest your savings and earn a return.
2) Owning a home is A LOT OF WORK. If I had to start over at 22, 23, I'd go out camping, hiking, traveling, and just having more fun. Go to Europe. Go to Asia. Date lots of girls. Have fun. Don't sink it into a home.
3) If you're single, I dunno, most girls I know would find is strange if a guy owns a home prior to them being 35 or so (at least here in the Seattle area). Homes are for dude who are married or have the established career (which, I'm sorry to say, you do not yet, 10 years experience minimum nowadays for that).
4) I've been saving for a few years now. Get used to it.
5) You seem to think owning a home will get you rich or enable you to live outside your means. STOP THINKING THAT. The era of 10+% ROI for simply signing a piece of paper saying you own a lean on a property are long long gone and never coming back.
6) Don't buy into the Real Estate Industry and Real Estate Broker firms' manta "don't throw your money away" bull. It's total bull. It's marketing to make you think like #5 in my list. Their job is to MAKE MONEY. They care this much () whether you earn a profit or not. They make money either way.
7) Lenders will be hesitant to lend money to you because you are so new. Slow down chief! It takes 10 years to establish your credit history! Unless you rake in the moolah I wouldn't even think of owning a home until you're 30.
1) Why are you so eager to buy a home? Renting is the cheapest way to go for young studs. Invest your savings and earn a return.
2) Owning a home is A LOT OF WORK. If I had to start over at 22, 23, I'd go out camping, hiking, traveling, and just having more fun. Go to Europe. Go to Asia. Date lots of girls. Have fun. Don't sink it into a home.
3) If you're single, I dunno, most girls I know would find is strange if a guy owns a home prior to them being 35 or so (at least here in the Seattle area). Homes are for dude who are married or have the established career (which, I'm sorry to say, you do not yet, 10 years experience minimum nowadays for that).
4) I've been saving for a few years now. Get used to it.
5) You seem to think owning a home will get you rich or enable you to live outside your means. STOP THINKING THAT. The era of 10+% ROI for simply signing a piece of paper saying you own a lean on a property are long long gone and never coming back.
6) Don't buy into the Real Estate Industry and Real Estate Broker firms' manta "don't throw your money away" bull. It's total bull. It's marketing to make you think like #5 in my list. Their job is to MAKE MONEY. They care this much () whether you earn a profit or not. They make money either way.
7) Lenders will be hesitant to lend money to you because you are so new. Slow down chief! It takes 10 years to establish your credit history! Unless you rake in the moolah I wouldn't even think of owning a home until you're 30.
I agree with this, nicely said!
Slow down, owning a home is expensive, it's more than just your monthly payment! You shouldn't buy a home until you have the down plus a savings of at least $20,000 for problems that will occur and be responsible for after you are the owner.
It will also "landlock" you. If you need to move for a job, or because you want a cheaper area you will have to wait to sell that home first, it can take awhile. I owned for years, now I rent again and love it. My air condition breaks I call the owner to fix it, etc. If I want to move I just have to give notice and it's not my problem anymore. Now that experian is using rent history for credit scores I see no reason to own again unless I want to design my own home. Really think about it, add in all the extra costs, taxes, upkeep, you will find renting isn't that bad of a deal.
You're 26, your life is most likely going to change dramatically in the next few years. I'm 34, only 8yrs older than you and have moved to three different states, got married, had two kids in the years since I was 26. Wait, save and enjoy being 26
You're 26, your life is most likely going to change dramatically in the next few years. I'm 34, only 8yrs older than you and have moved to three different states, got married, had two kids in the years since I was 26. Wait, save and enjoy being 26
We're pretty much the same age (will be 34 next month) except I am single with no kids. I personally have no problem renting until I save up enough to buy a home but, renting in the right area is what makes all the difference. 26 years old? Yeah, I was there once lol...
what happens if you buy and you end up needing to get out. good luck selling your house in this environment.
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That's a LOT of dough....
