To plan buying a house three years from now? And BTW the place I want to move to is Milpitas, CA which is on the outskirts of San Francisco :]
It gives you something to look forward to and to plan for.I think that is quite all right.At least you know what you want in terms of where you want to live.
You'll have at least a 10% downpayment for a house, and fairly secure income to pay at least $1000 / month when you're 18? Fantasy is of course encouraged
With the way the economy is now? I would not be making any concrete plans just yet, but for sure you can plan Just dont a) get your hopes too high and b) do anything hasty you cant reverse three years from now. Its like everything in life though, you just need to roll with the punches. If in the next three years you come across alot of money somehow, great! Invest in that house But if someone bad happens and you need to spend your money else how, just adjust and set your plans for the house back a few years I think its an admirable goal to own a house at a young age though *bow*
its good to have somthign to aim for... just try and get in before prices recover ...(you might even make a profit )
as long as its well thought out and you can afford it then I believe its ok. And make sure the three year deadline is flexible, and if you can't afford it after 3 years then wait. Just plan plan plan and it should be fine
House prices in San Francisco are insane, even in this economy. Down by Milpitas, they do drop off quite a bit, but they're still pretty high. You might consider renting to start. Why Milpitas, if I may be so bold? Lex
well that depends on if you have a car with payments. a house can cost a lot and you would need a RELIABLE (i stress that due to the economy) job that pays well, i could see an apartment but i don't think it would be wise to get a house at 18 years old. just get a good job, save money. One of the reasons the economy is bad is due to when the Clinton administration lowered that bar for qualifications to buy a house, but when people started buying houses and could not pay for them things started going downhill. I personally wouldn't buy a house unless i had 50% of the money ready and on hand. But i hope you THINK about this decision long and hard.
