Should I buy a house???
OK- here's my situation:
I have been thinking about buying a house. The problem is, I don't really have any money to put down. Here are my stats:
Current rent- $1200
Outstanding CC Debt- $800
Other Debts- $0
Amount I am currently able to save (once CC is paid off) - $700/month (not including 401k)
Closing costs- I could borrow from parents
Downayment amount - $0
Housing price range- $200k - $250k
What do you think? Does it make sense for me to buy a house with no money down, or should I wait a few years, renting (a lot of $$ down the tubes), until I have a substantial downpayment?
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