I'll try to keep it brief.
I'm 20, live at home, and attend a community college(1yr left, then 2yrs at flagship school that is same distance). I commute 45 minutes a day and have a reliable car I own worth 6k on KBB.
I work part time and have some side hustles that reliably pull in a total of 35k post tax. I put 5% of my W2 in a matched 401k.
Tuition is taken care of by grandparents, scholarship, and crypto, in that order.
I have $30k in the bank and $12k in acorns.
My credit is good with my current scores hovering around 725.
I have 5 credit cards in my name with 30k limit + a charge card accross the 5.
Im also an AU on two 10yr+ cards with high limits and i have a 8 month old Self loan.
Here's my plan. Houses in my area (northern Midwest) are 75-150k for something livable. I will aim for something as cheap as possible, which will probably end up being 80-115k.
My down payment can be most of my cash and I'll sell the Acorns account (very little cap gains) to cover closing and any other costs I may run into. I'll still be making close to 3k a month with less than $750 a month cost of living until then so I'll have more cushion.
Why do I want to do this? Because I don't want to live at home any more. My family is fine, but two decades is enough. I also hate the idea of renting which is what my parents suggest whenever I mention my plan.
So I guess either tell me I'm a dumbass or make some suggestions please? I have been saving a long time and feel like I should do this before things get worse.
Edit To Add
Yall are awesome. The input has been amazing, but I'm still on the fence! For every person saying I'll regret there is anther telling me to jump at this chance. This is why I'm so torn.. Save mee!
Submitted April 10, 2022 at 11:59PM by Economy_Youth6065 https://ift.tt/gcHCJSK
