I am a 25 years old female and want to get out of my parents home, I don’t want to waste money on rent but right now I have only $10,000, So here I am looking for your suggestion that where should I go for this? Hope you will help me.
Thanks in advance!
Find out your FICO score, get pre-approved for mortgage, contact local REI club for potential sellers and info. It’s a start. Good luck.
What market are you considering purchasing in? In the current US market over all I would suggest waiting another year at least before purchasing unless it’s at a price low enough to survive the current depreciation rate. (in other words, a really good deal.) I personally have sold the home I lived in and have chose to rent for the next year at the very least.
GooD Luck! :beer
The first step is to find out what it will take for you to qualify for a mortgage. My guess is that $10k won’t be enough even with pristine credit. Once you know what you need to qualify: Like more established credit, money in the bank, paycheck stubs, tax returns, etc., then stick it out at your parents’ until you have all your ducks in a row. If you are disciplined and methodical about this, you will succeed in your first home purchase. It won’t be overnite and to save up enough for a downpayment, you will need to tighten your belt, get a second job and BE PATIENT.