Re: How do people in debt become homeowners??
Jenney - Do you belong to a credit union? I'd go there and see if one of the loan counselors couldn't talk you thru your bills vs. opportunity lost vs. worries vs. facts scenarios. Look around in maybe the Sunday paper and see where they are offering a first time home buyers seminar. Go. Call a mortgage company or realtor and ask them about prequalifying for a loan...see what they say. Then as advised here back off some on the amount of 'house' they say you can buy.
I'm with the poster above...they've tried over the years to tell The Hubster and I that we can afford more house than we have. I don't think so. Guess who wins. Me! You know what you can do...but let them help you understand the facts a little better. A bit of education never hurts too much!
Not knowing where you live I can't say for certain but given the amount of rent you are paying I'd say that you can definitely afford a house and the sooner the better. Even in a big metro area like ours there are still some lower priced houses around and with what you are paying in rent I could buy three times the house I have!
Explore some options with a close eye to the facts and see where you come up. Right now you are doing quite a bit of suppositioning w/o the real world facts & figures of your local economy and real estate market professionals. See what the pros have to say, but keep one hand on your wallet sweetie!! Good luck and let us know how it goes!!
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