If I seen a used house for sale for $79,000 how long would it take to save up for the down payment?

[Anonymous]

[normalice]

It depends on your income. In general, you want to shoot for a 10% down payment.

Also, a 79k house that is on the market long enough for you to see it means there is something badly wrong with it. It may be in a flood zone, for example (meaning it is effectively uninsurable). Or cracks in the foundation. Or a sink hole.. Or maybe the whole thing just need a to be demolished and a new house put in its place. In other words there is no gamble or question here: you will lose all of your money and everyone knows it or they would have bought it already.

[ohshee]

Forever because if there's a house listed for $79,000 believe me it will be gone tomorrow so what you do is you just start saving anyway so when you see a deal like this you can just go buy it rented out and then get another and let the first one pay for both of them

[jamesgoldman]

Downpayment is what 10% minimum so $7,900 plus any closing fees

Depends on the hours you work and what you earn especially if you have the unfortunate burden of paying taxes

[exitseven]

You need at least 8 thousand dollars so it depends on how much money you earn and how good a saver you are.

[slatyb]

How much can you save from each paycheck? How much down payment is required?

[888theGreat]

Housing is about to collapse , wait and buy it for $25,000. I would be scared something was wrong with house for that price today.

[Anonymous]

depends on your income and how much your able to save

[driven159]

Could pay cash for it any house at that price could flip it fast

[In_Trance]

That depends on how much money you make what you invested in and the return on the investment

[Anonymous]

If you see a house for$79k, it'll be gone before you even get a chance to save the first dollar towards it.

[DragonDraggin]

How much do you make.

[Asker]

$14 an hour paid weekly

[Asker]

40 hours a week

[DragonDraggin]

You make 26,880 before taxes your gonna need to put at least 7,500 or more down on the house.
I did you bills lights gass phone rent car insurance rainy day money food.

And you have around 400-530 left. And it will take you 12 years to pay off the house.

[DragonDraggin]

The 530 towards the house every month

[Asker]

So I'm guessing get a house for rent is better?

[DragonDraggin]

I suggest getting a cheaper house. Don't rent its always better to own

[MrOracle]

A cheaper house is a tent. You can barely buy a single-wide mobile home for that in California.

[DragonDraggin]

Wavy are u in California though