So, my boyfriend and I are looking at buying a house in about 2.5 years. I'll be out of school then, and he just got offered a full time position at his job, so he should have a good chunk of change saved up for house buying purposes. My question is, is it as easy as it looks?
By the time we're ready to buy a house, our combined salary should be about 50k. We plan on staying in Mississippi for now, so price of living is pretty **** cheap. For 100k, we can buy a 3 bed/2 bath house in a nice part of town with a large fenced in backyard and within walking distance to his workplace.
Right now we have about 15k saved up in our house fund, neither of us have any debts of any kind; saving up another 5k in three years for a 20% down payment will be easy.
I guess I'm confused at how easy this is? The monthly mortgage for the houses we're looking at ($375/month) is less than the rent for the apartment I'm in ($410/month). Living in Mississippi has that for a perk, at least Are there hidden fees we should be looking out for? Does it sound like we will be "ready" to buy a house?
We really know nothing about buying a house haha, so it's a good thing we've got a few more years to get this all figured out.
By the time we're ready to buy a house, our combined salary should be about 50k. We plan on staying in Mississippi for now, so price of living is pretty **** cheap. For 100k, we can buy a 3 bed/2 bath house in a nice part of town with a large fenced in backyard and within walking distance to his workplace.
Right now we have about 15k saved up in our house fund, neither of us have any debts of any kind; saving up another 5k in three years for a 20% down payment will be easy.
I guess I'm confused at how easy this is? The monthly mortgage for the houses we're looking at ($375/month) is less than the rent for the apartment I'm in ($410/month). Living in Mississippi has that for a perk, at least Are there hidden fees we should be looking out for? Does it sound like we will be "ready" to buy a house?
We really know nothing about buying a house haha, so it's a good thing we've got a few more years to get this all figured out.