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How to Buy a House in Your Early Twenties

Tips for Saving and Investing

When it comes to home ownership, there are a lot of factors that go into the decision. Some people choose to buy their first home as soon as they can, while others wait until they have more money saved up or get married. No matter what your situation is, buying a house offers many benefits and has become far easier in recent years due to the availability of online mortgage companies like Quicken Loans. In this blog post, we will discuss all of the steps you need to take before deciding on a house and how much money you will need for each step along with some tips for saving and investing! You should also check out these houses for sale in indianapolis and pick the best option.

Houses For Sale In Indianapolis

Step #1: Decide whether or not you want to buy a house.

Step #2: If so, make sure that you have enough money saved up for the down payment by figuring out how much of a monthly mortgage payment is affordable for your budget and then subtracting this from your take home pay each month. A good rule of thumb is to aim for at least 20% of the total price in order to avoid being required to put more than 80% financing on top of it when purchasing a new property!

*Tip – Consider saving with an unsecured high yield savings account if you are unable (or unwilling) to save any extra cash because these types allow interest rates higher than traditional checking or savings that are meant to to be used as a safety net.

Step #3: If not, you can still invest in other ways to create more wealth! Remember that investing is part of the process and doesn’t have to happen before or instead of buying your first house – it’s just an option for getting started on this journey.

*Tip – Consider opening up an individual retirement account (IRA), which has tax benefits even if you’re not saving yet! You’ll need $0 investment minimums and there are no penalties when withdrawing funds from these accounts once you hit age 59½.