Just Because You Can Afford the Down Payment…Doesn’t Mean You Should Buy A House (Part II)
Better ways to use that money to prepare you for home ownership.
In my previous post, I wrote about a post on instagram where a real estate agent was saying that if you and your partner could saved $578 a week starting now then they could afford a down payment on a house by the end of the year.
While it is possible to do what the realtor said, I personally think that for most people that would be ill advised. I broke down the true costs in the previous post and decided to dedicate this one to ways that you could put those savings to better use!
How To Put That Money To Better Use
You’ve developed a great saving habit, saving yourself an extra $27,744 a year. That’s great! In a way, you’ve given yourselves a pretty good raise.
So if not to use it for a house, what should you use it for?
Pay Off Debt
First, if you have a credit score of 700 (remember, the OP’s minimum score was 620), that’s pretty good! You’re a little under the national average, but that’s still pretty good!
