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Buy a GTR or a House?

Originally Posted by m4a1mustang I say wait until you have a years worth of essential living expenses saved. So enough to cover 12 months worth of rent, car payment, insurance,

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Old 09-10-2011, 09:56 PM   #10 (permalink)
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Originally Posted by m4a1mustang View Post
I say wait until you have a years worth of essential living expenses saved. So enough to cover 12 months worth of rent, car payment, insurance, food expense, and other necessities.

6 months is the minimum recommended safety net, but in this environment 12 months gives you more of a buffer.

In your case, just focus on saving for a down payment since your parents have the other expenses covered.
Plus I don't think you'll be able to get a home loan with just 3 months on the job. Home loan requirements are pretty strict now. Just save up your money for now.
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