I know I'm thinking early for a 16 year old like me, but I want to know how can I invest on a house/condo now or whenever I do plan out to move from my parent's house so that I am stable enough to live on my own without anyone's help. Any tips please?
2006-08-31 20:21:29 · 4 answers · asked by miszphan 2 in Business & Finance ➔ Investing
put your money into 12 month cds. cash it out when you are ready to buy a house and use that as a down payment. The more money you can put down the less money you will have to waste on interest. You also have to be 18 to purchase a house/condo. If you put down at least 20% than you can avoid paying PMI insurance which costs you about 100 dollars per month for a 100,000 dollar house.
2006-08-31 20:26:05 · answer #1 · answered by searay092003 5 · 1⤊ 0⤋
Work and slowly put money back now. Most of the time with things like this(condos,cars etc.) it is always good to have a big down payment, like maybe a lil more than $1000.
Would probably be a good idea to get a savings account and just stack money :-)......Good Luck!
2006-09-01 03:27:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Move out from your parent's with lots of cash,
and follow the life of Richard Branson.
2006-09-01 03:29:17 · answer #3 · answered by nomad 4 · 0⤊ 0⤋
try to read some book about safety so then you will be safe everday at night or morning.good luck.....
2006-09-01 19:45:31 · answer #4 · answered by Anonymous · 0⤊ 0⤋