What can I do to better prepare for a home purchase down the road?

I am currently studying to become a teacher. I plan to own in a home within the next five years. I don't know what the market is like, but by then, my children will be about ages 8 and 5. What exactly should I start doing now to better prepare me in the long-run to buy a home? I have started to work on my credit as well.

Financial Planning, Real Estate
Answers
Sort By:
Most Helpful
July 2017
100% of people found this answer helpful

The most important thing you can do is not to gamble with your money.  Put it in something completely safe like a bank account even if it is paying only 1%.  Don't take risks with overvalued U.S. stocks and similar dangerously overpriced assets.  You can put money into http://myra.gov/ which pays 2.25% guaranteed by the U.S. government.

Don't buy a house too soon.  Wait three or four years for real-estate prices to be much lower as the Fed's zero-interest policy unwinds.  You will be able to save a hundred thousand dollars or more depending upon where you live, simply by being patient and waiting for significantly lower housing prices.

July 2017
July 2017
July 2017