Should I look to purchase my first home now and close in January or wait until January to start looking?
I've been saving up money for the past 6 months as I started my first real job (full-time bank teller/training to become customer service manager), and I want to buy my own home so that I can start building equity and move out of my parents' house. So I plan on paying off all of my credit card debt ($3500) through a maturing CD, a tuition reimbursement through work, and savings- in early January... with about $5000 left over as a down payment on my first house (looking in the $60-70k range since I'm single and am willing to fix up things as long as it's a good area... plus I have good credit (700+) and am prequalified for a 100% loan through my bank if I decide to use it in lieu of the $5000 downpayment on a traditional loan.) Should I start looking now (in Michigan with it's down market, great time for buying)- or start looking in January when I'm credit card debt free and have the liquid money in my savings account? I know it takes awhile (2-4 months) to buy a first home.
Asked By: Paris P - 9/9/2007
Best Answer - Chosen by Asker
You have to decide what works best your financial situation. While the market right now is tough, due to over supply of inventory, it still remains the best investment you can make... More
Answered By: DJ B - 9/9/2007
Additional Answers (1)
I'd start looking now. It's generally a buyers market and as we get closer to the holidays, there are even fewer buyers looking for homes... More
Answered By: Sara Katrina - 9/9/2007
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Work At Home Jobs Make $87/HR, Jobs Seen On TV. Jobs Hiring Now
Click. Search. Apply. Free!
My Internet Job Paid Me $4,000 in 10 Days, See Proof
Other Career Questions
What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.