Purchasing a Home

[Greddypacked]

I wouldn't recommend any home buying at only 26 years of age. Unless you have perfect credit score then $10-$15k will barely get you in even financing range for a home.
Unless you are in a career and not just a job position you could lose tomorrow id continue to save money. Right now is a great time to buy a home if you can get a large loan or just pull $100k out your hat. Unless you are married and starting a family right now then id say maybe look into a condo or larger complex just my opinion.

Listen to this guy.... Your still young so leasing, getting a loft/apartment and still being able to save money for the future, pay bills and what not will be a good goal. Some nice apartments have garages u can get. Now if you know you have good job security and your ambitious enough to pull off getting a house this early go for it, though 10k dollars isnt alot of money while purchasing a house. Now u can look at foreclosure homes and houses banks are trying to get rid of, those houses require cash usually though. I know a house worth about 80k got sold for 42k cash the other day. Now if u have a family and a wife that has a good stable job getting a house seems like a good idea, but if your single supporting yourself I would save more money, rather than making a big move. Goodluck on your decision.

[David88vert]

Listen to this guy.... Your still young so leasing, getting a loft/apartment and still being able to save money for the future, pay bills and what not will be a good goal. Some nice apartments have garages u can get. Now if you know you have good job security and your ambitious enough to pull off getting a house this early go for it, though 10k dollars isnt alot of money while purchasing a house. Now u can look at foreclosure homes and houses banks are trying to get rid of, those houses require cash usually though. I know a house worth about 80k got sold for 42k cash the other day. Now if u have a family and a wife that has a good stable job getting a house seems like a good idea, but if your single supporting yourself I would save more money, rather than making a big move. Goodluck on your decision.

Nice 2 bed/2 bath apartment in Duluth with a 1 car garage is $1200/month. You can rent a house for that. You can BUY a house for that.
You do not have to have all cash for a foreclosure. I'm buying one now, and it was no different to get a loan for it than from a regular house. 5% is good enough to get a loan on most, and 10% will get you a decent loan (20% is much better though).
Now is the time to buy. Keep it at least 2 years, than start evaluation if you will make money selling it.

[Greddypacked]

Nice 2 bed/2 bath apartment in Duluth with a 1 car garage is $1200/month. You can rent a house for that. You can BUY a house for that.
You do not have to have all cash for a foreclosure. I'm buying one now, and it was no different to get a loan for it than from a regular house. 5% is good enough to get a loan on most, and 10% will get you a decent loan (20% is much better though).
Now is the time to buy. Keep it at least 2 years, than start evaluation if you will make money selling it.

Not sure if he needs a 2 bedroom, but I know people paying 600$ a month for a 1k sq foot 2 bedroom apartment right near main street woodstock. Nice apartments also. I would rather save more then 10k to purchase a house.