How can a 20 year old guy afford the price of a house to move out?

people who moved out. how did you get the money to afford the price of your own house?


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Most Helpful Guy

  • Well when u first move out u start by renting a place. A cheap place. Like a small apartment. And ya it's gonna suck but that's what u gotta do. From there u save up some money and when u can afford it u either rent a better place or if u have enough money for a down payment then u can look into buying ur own place. But that process usually takes years

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What Girls Said 1

  • Um, you rent? An apartment? LOL

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    • how much is the rent? for example I mean? hpw much was your rent then

    • Totally varies by market. An apartment that's 500/mo in Alabama would be 3500/mo in San Francisco. You gotta check yr local listings.

What Guys Said 5

  • Few 20 years olds could afford a down payment or actually obtain any mortgage.

    Normally you rent and work for a few years to build up a good down payment on a starter home. That's how most people do it. The youngest homebuyer I've ever known was 23 (on a condo), but she then lived in it with her brother. Also, her father made most of the payments and was listed on the deed.

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  • Saving is the only way - How quick you want the house, how hard you save up to you

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  • You can't afford a house until you have a real job. They're kinda pricey and the credit is a lot tighter.

    Roommates.

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  • I started with an apartment. Did that for 5 years, working my ass off, then bought a house. Don't even have a mortgage anymore.

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  • the wife and i rented for a few years. then i took a load from my 401k for the down payment. what we saved in PMI insurance basically payed for the loan
    PMI insurance is something you have to have if you dont have 10% down

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