Originally Posted by allreds
So people that own their own homes, how did you do it? What kind of work do yo do? Any job/career? I'm getting getting older and time is stopping for no one. I realized I need to step my **** up or fail at life.
You'd be amazed at how easy it is to purchase a house with good credit. My case is by no means the norm, but purchasing a house was actually less than it cost for me move into a nice apartment. My initial down payment for my last apartment was about $1400, which was one month of rent of $1075 + $300 for a damage deposit. In contrast, the mortgage for my house will be $1033 and my downpayment will be less than $1K, thanks to a first time home buyers program available in my state. Qualifications for the program are making less than $70K and attending 8 hours of a class to teach you about the buying process, taking care of your home, etc.
I work in IT, so fortunately I was able to find a job right out of college (actually got my first offer while still in school, like many people I know who did internships,) and I'm in my second year with my current agency. I didn't really view it as a waste of money, but I already knew what I was doing before college, so I had a plan going in - many people don't, and waste a lot of time and money between changing majors and getting all of the partying out of their system.
It's not impossible out here for younger people - I'm 23, pretty much established in my career, and less than a week from closing on my first house without much help from my parents. Shout out to NT, as my credit score (700+) was pretty much the only way I made it happen and those credit card threads helped a youngin'