Hi!
I'm looking to buy a condo in Minneapolis at the beginning of 2008 (about 9 months). Right now, I'm a senior in college, fortunately with no debt, and will start a job in June that pays 46,000 a yr.
I'll be living w/ my folks for a while to save money until 08, so most of my income should go directly to savings. My current status is:
About $15,000 in equity holdings (mostly index fund ETF's)
$3000 in savings.
I also plan on earning about 15,000 (after tax) from now until I would like to purchase the condo.
My questions are:
1) How expensive of a condo should I be looking to buy and how much should I be looking to save for the down payment?
2) Since the planned purchase isn't for another 9 mo., what should I do with the money I do have (and will get from my job in the coming months). Should I invest it in ETF's until 08 or keep it risk-free. Right now, my savings are in an Emigrant Direct savings acct earning about 5%.
Any advice would help! Thanks
2007-04-14
08:33:48
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4 answers
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asked by
airlyss
2
in
Renting & Real Estate