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I lived with my parents for a year and half...
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I lived with my parents for a year and half and saved 45k. I want to buy a house for around 100k, probably a bit less. I plan on putting 20k down payment, 5k for inspection and miscellaneous closing costs (probably a bit high I hope). I have 10k in retirement accounts, mostly Roth IRA so I can get that out if need be, and 10k in taxable accounts in a balanced index fund portfolio I'll have to mostly liquidate so I have cash, hopefully the stock market starts rebounding. I'm saving about 2k a month and bring in around 2.2k a month so I don't make much. I also would hope to get a paying roommate or put my place on AirBnB and stay with my parents that night.

Is this a good plan? I want to move out and get some skin the game while interest rates are low. My job is probably fairly safe, and I'm making so little that I'm confident I could another job paying at least as much as I'm making now. Also I have a 742 credit score and its only going up. If worse comes to worse I could probably get by on minimum wage working as much as I possibly could because the payments on the house with tax and insurance should be around 500 dollars.

Also if I move my Dad says he would be happy to be a landlord. This new house would be less than 2 miles from work so I would be able to take the bus very easily or ride a bike and I'd save a lot of money on gas and car repairs compared to the 26 mile round trip commute I have to make every day now.
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>>1051837

Oh and I have no other debt (full scholarship so I don't feel quite so stupid for not majoring in STEM or accounting).
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>>1051839
>>1051837

Oh and I forgot to mention in my market renting a comparable place, 2br1ba would be anywhere from 800-1200 dollars. The neighborhoods I'm looking for are those that are improving and property values are rising more quickly than anywhere else in the city. Basically one of those urban core neighborhoods that have been neglected until now where gentrification is slowly spreading.
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