I want to buy a home...?

Question

I want to buy a home when my lease is up in August because I hate throwing my money away on rent. However, I always wanted to wait until I'm married to get my first house... I'm a little bit intimidated to go in on a mortgage by myself, because I feel so ignorant of the whole process (that and everything here is so expensive!).

Basically my question:

Should I rent for one more year (my boyfriend and I have been together for 2 1/2 years, so we'll either be getting married within that year or I'll be moving on), or should I just fight my fears and purchase now?

Answer 1

Don't ever wait for a guy before doing what's best for you personally! You will just resent him and get anxious for him to propose (therefore pushing him away) if you put your life on hold until he's ready to take the next step (which he may not be).

That said, I am assuming you are financially able to purchase a home. If you can comfortably afford the payments ON YOUR OWN for a comfortable house/cond in good condition, then buy!

I am 23 and just bought a condo in the last 6 months. My boyfriend and I have been together for 2 years and he's still renting. Things are great between us, and if he proposes then we'll buy a house together and rent out my condo (that's my plan anyway). Plus it showed him that i'm independent and that my entire life doesn't revolve around him and HIS decisions--which I think attracts him to me all the more.

Answer 2

You should not put your life on hold in the hopes of getting married. There are a lot of single women who purchase homes, condos everyday.
Find yourself a good real estate broker to help you through the process so you do not feel ignorant. Ask friends and family for names of agents they had success with.
Also ask for names of mortgage brokers at the same time. If you have a good Realtor and mortgage broker the process will be easy, and you will see you do not need your boyfriend.
If down the line you do want to get married you could add him to the deed, or sell and buy something as a couple.
Good luck,
RE Agent,
Remax

Answer 3

It depends on where you are. If the current market in your area is buyer's market (many houses for sale and the price has gone down compared to 1-2 years ago), and if the local economy is good and general opinions predict the housing price picking up starting this summer and continues, then, you may want to buy a small house. In 2-3 years, you can sell if you have to and make a profit. Remember real estate is location, location, location. If you choose a good location (good school district, etc.), you can't go wrong too much.

Answer 4

The benefits of homeownership are too big to vontinue renting if you are able.

Your status with your boyfriend might mean you should go it alone and try to qualify for the mortgage on your own. A good real estate person can make this easy, also many of the new home builders are very easy to deal with.

Answer 5

Purchase now. It's a buyer's market. No need to wait till you get married to buy a house. I'm a single mother and I own two homes. I want to buy a couple more and rent them out.

Answer 6

I would go for it as well. I wanted to join the air force as soon as I graduated from High School but I diden't for the same exact reason. It took him five more years for him to ask me to marry him....I often wonder what my life would have been like if I followed my dreams and not have waited around for him.

Good luck,

RE Agent
Century 21

Answer 7

Im in the same boat you are but already married...i would say go for it while interest rates are real low...this means you will get a very low payment