http://qvisory.org/posts/i-want-to-buy-a-house-maybe.xml Fri, 22 May 2009 14:45:43 GMT http://qvisory.org/posts/i-want-to-buy-a-house-maybe#comment_12668 Stephanie, As a 26 year old working professional, I'm on board with you at the torn feelings of whether or not to buy at the moment. A friend/realtor recently told me "If you can't commit to being in the same place for 5 years, at the very least 3 years, buying a home is not for you." If you plan on staying put for a while, a "starter home" is a great way to spend 5-10 years and to build some equity to roll over to your next house. This way you CAN afford the house you've always wanted when it comes time. If thinking of being in the same area for the next 5 years freaks you out, I'd say hold off. Continuing paying down debt (focusing on the car first, student loans are viewed as "good debt") is a great plan, and I'd recommend incorporating saving for a down payment/closing costs into your budget. Generally speaking, the more you're able to put down, (combined with a good credit score) the better (and by better I mean cheaper) the mortgage products will be that are available to you. That's my 2 cents, but it's something to think about Trust me, though, I'm right there with you! Best of luck with it! Fri, 22 May 2009 14:45:43 GMT http://qvisory.org/posts/i-want-to-buy-a-house-maybe#comment_12668 Tim http://qvisory.org/posts/i-want-to-buy-a-house-maybe#comment_12714 I'm of the opinion that prices will continue to drop and you should wait it out. This is my reasoning. If you miss out on a true bottom, you'll pay a little more buying on the way up, but it'll still be an upward trend where you can enjoy home appreciation versus depreciation. Makes sense to me. Thu, 02 Jul 2009 21:23:20 GMT http://qvisory.org/posts/i-want-to-buy-a-house-maybe#comment_12714 <a href="http://www.gobankingrates.com/banking/money-market/">Money Market Guy</a>