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    Afford a home?

    created by mistervancleef 397 days 1 hour 48 minutes ago

    Category: World

    Afford a home?

    Do you think you'd be able to afford to buy a home in the next 10 years?

    Student loan debt is crippling this generation. Many young people are still living at home with their parents due to their debt.

    My question to you is do you see any chance to get out of this debt? Do you think buying a home is anywhere in your future?

    I look forward to hearing from you all! Have a great day!

    Re: Afford a home?

    Howdy mistervancleef,

    I do believe in 10 years that I will be able to afford to buy a home. I may actually be able to graduate with my PHD with no student loans if I am able to find a good enough job while going for my MA / PHD. I can see myself actually owning multiple homes. It all depends on what I want in the future.

    Thanks for reading!

    ~Tera~

    Re: Afford a home?

    Hey!

    Haha absolutely not. Luckily I have a great significant other who wants to house me forever. I'm 27 and living with my parents still to save money, but eventually I'll bunk up with him.

    Financially stable at 27- nope. Tons of student loans - CHECK.

    Thanks for the forum, have a great day!

    Kory

    Re: Afford a home?

    Hey,

    I see myself in a new house in 10 years for sure. I own my own home right now, but it's very small and it was in the family prior, so I was able to buy it very cheap. It's 2 doors down from my parents' house. Being so close to my parents' is convenient when I have classes because he's 14 and he can stay at home alone for a while and they can check on him, or he can just go to their house while I'm at class for a few hours.

    Later,
    Carl

    Re: Afford a home?

    Hi!!

    I'd love to have my home paid off in 10 years! It's the perfect size for me and my husband and not having a note would be awesome! We could have money to travel!

    Hope you have a great day!

    Linda

    Re: Afford a home?

    Hey,

    I hope to be able to get my dream home in 10 years for sure!
    I have 7 month old twins and they need a good home to grow up in!

    Britt :)

    Re: Afford a home?

    Hi Mistervancleef!

    I would LOVE to buy my own home in the next 10 years. I hate that I could be paying a morgage but instead im throwing my money away on rent.

    It's hard to say if I will be in the position to afford even a down payment on a house because there are so many things up in the air. If I decide to keep my job in San Diego and settle down here there is no way I will be able to afford a house. I also don't know if I will be married with a second income to help put money towards a house... not to mention kids :)

    -E

    Re: Afford a home?

    Hi Mistervancleef!

    Well....that's a tough question, lol!

    It is hard for me to even think about owning a home because I am still getting my Masters and accumulating a lot of debt. But, I would like to own a home once I get a good paying job.

    First off, I hate paying rent. It's ridiculous how much rent has increased in the past five years!

    Secondly, I live in an apartment, so I always have to deal with neighbor's being loud or dogs whining all day.

    Third off, I would like to have my own pool, so I can tan in the comfort of my own home :P

    Fourth..... I just hate living in apartments lol!

    Clearly I would love to, but I have accumulated so much debt, I really don't know how thats going to affect my finances in the future.

    Re: Afford a home?

    I think in this generation we struggle to find out what the future may bring. Considering that I already started high school with college credits I may be able to pay it off after I go to college at a university in the fall. If I were to change my mind and eventually go back to a community college and live with my parents then I will know for sure that I would be able to pay it off and eventually get a home if I end up with a decent job. Perhaps living with my parents now would not be a bad idea so I will not have to live with my parents later. I would hope to be able to afford a home in 10 years.

    Re: Afford a home?

    hello!

    In 10 years, I hope that I will be able to afford a home. I'm new to student loans and it doesn't look good but I am hoping I will come up with the money somehow because I have big dreams for myself and my family.

    none of my dreams will amount to much if I'm still in debt but I'm hopeful :)

    Re: Afford a home?

    Hello.

    This is a great question, especially for someone in my position.

    I work two part-time jobs, go to college, and live with my boyfriend and his parents. We are itching to get our own home but the realization that we will have to get a mortgage in order to get the home and pay off my student loans (if/when I get them) is daunting. He works for the city of Phoenix right now, but is looking for other positions in other cities. The position he is looking for pays very well and he is confident that we will be able to afford a home we will hopefully live in for the next 30 years.

    However, my schooling will more than likely take me out of state and I find that to be a huge setback (I'm aspiring to be a veterinarian <$$$$$$$$>). :D But on the bright side, I am totally confident that we will be able to find a home for us to start our lives in the next 10 years. We were hoping to get our own by the end of the year but unforeseen mishaps got in the way so we may have to wait a little longer than planned. Being smart and budgeting your finances is a huge factor, trying to put a little aside each pay for a large purchase such as a house is a good way to start.

    Re: Afford a home?

    Hi y'all

    Congratulations to all the winners.

    I think home affordability is seriously starting to become a problem and may be even more so before the 10 year timeline you gave. With wealth disparity and income inequality growing, more and more people will be forced to settle for less with growing debt. And it doesn't seem those in postions of responsibilty care anyhow.

    Cheers all

    Re: Afford a home?

    Hi!

    I would love to say that yes, I will own my own home. However, I would not be able to stay where I grew up, where "home" is to me. I come from the Bay Area in California. Although I am in Phoenix at the moment for school, I will not be staying here. The housing costs in the Bay Area are absolutely insane. The home my parents paid around 200k for 18 years ago is now worth over 700k. You literally have to have two professional incomes to be able to make just your mortgage and utility payments and you are still living paycheck to paycheck.

    My old neighbors home, built in the mid 80's, 1200 square feet, 3 bedroom 1.5 bath just sold for 527k. In the world I grew up in, a smaller three bedroom home would be looked at as a "starter home". I am thinking there may be another housing bubble burst in this area. It's crazy.

    If I am going to be able to buy and not be house poor, I will need to move north into Oregon or Washington.

    Re: Afford a home?

    Hi!!

    I hope I can afford a nice home in 10 years! I hope to get academic scholarships to offset a lot of my costs!

    Katie :)