Background info: 28 years old, salary 58k, owe 10k in student loans, have 60k in the bank. I don’t pay rent, live with parents. Monthly expenses are very low. I pay $800 a month towards my student loans, just to knock them out as fast as possible (required monthly payment is ~$130).
I’ve been saving for a down payment to buy a house for awhile now. The plan was to put 20% down (40k) and still have 10k for any fixing up I’ll need to do and another 10k for an emergency fund.
The Problem: I’ve realized in the last few days that there is a very good chance I will lose my job come May 2021 if covid doesn’t start making it’s exit. I would actually be surprised if I can hold onto it that long. This makes me VERY nervous to move forward with purchasing a house. However, I desperately feel like I need to flee the nest as I’ve never had my own place. Living with my parents has been good, but it hinders dating life and just moving forward in my adult life in general.
QUESTION: What would you do in this situation? Buy a house anyway? Get an apartment and invest the down payment money? How would you invest it? Pay off student loans? I’m pretty confused.
Submitted August 21, 2020 at 09:50PM by Illtossthislater12 https://ift.tt/2Yrhj2a
