All Topics / General Property / I want to buy a house

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  • Profile photo of mariegoldmariegold
    Member
    @mariegold
    Join Date: 2008
    Post Count: 1
    March 7, 2008 - 1:26 pm

    I am a 25 years old female and want to get out of my parents home, I don’t want to waste money on rent but right now I have only $10,000, So here I am looking for your suggestion that where should I go for this? Hope you will help me.

    Thanks in advance!

    Profile photo of JONCHUJONCHU
    Member
    @jonchu
    Join Date: 2004
    Post Count: 112
    March 7, 2008 - 9:05 pm

    Hi Mariegold, buying a house is easy as long as you can afford it. For example $10K is 10% deposit on a $100K property.  5% on a $200K property, etc.

    My point is, it all depends on how much you earn (your ability to service a loan), and how well you have managed to stay out of debt (credit card, car, furniture, etc).

    Profile photo of XeniaXenia
    Member
    @xenia
    Join Date: 2002
    Post Count: 1,231
    March 7, 2008 - 11:09 pm

    Best to talk with a mortgage broker to work out your own specific borrowing capacity and repayment capabilities. Then you will know what to look for.

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