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Discussion Starter #1
Ok guys, I'm finally almost debt free and I'm contemplating two options. I'm going to school right now and plan on taking quite a few credit hours each semester so I can finish up in Fall of 11. Well I'm drawing unemployment at the moment and still living with my parents. I'm working at Pizza Hut delivery driving too because I can make 25% of my unemployment without any deductions. So since I make tips and they don't make us claim them I'm doing pretty well right now for the next 4 months or so. I wanna state now that please don't give me any shit about draining unemployment or not claiming my tips because I know a lot of people that would/are doing the same thing. After unemployment, I plan on making about 300 or so a week with tips (if i claimed them for a little bit to get pre-approved).

Ok so now my options. I am either planning to save up and try to get a house or just stay with my parents longer and save up for a new car. I would wait till I'm off unemployment to do either of these, but I'm not sure which would be better. I'm not real sure if I'd be able to get approved for a house and I'm kind of worried about the commitment at this point not having a steady good paying job. Houses are cheap here only 60-70k but still. I don't mind living with my parents but I almost feel as though I'm a burden because my parents are starting to get older and I would imagine they'd want some time without having to worry about me living here. Like I said though I don't know if I could take on the commitment of a house. I could probably get my friend to go in on the house with me. He's overseas now but gets back in a few months and will have quite a bit to put down as will I. We'd talked about it before but I've never been ready for it. My other concern is my DD is a 1995 Firebird that is starting to have issues. It has 155k on it now. In the past 3 months, I've had to change the water pump, radiator, coolant lines, and a few other odds and ends and it's still leaking coolant from a place I can't find.
 

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Get a car....if you buy a house with your friend....well both of yall arent going to live there forever....then who gets the house when its time for yall to start families of your own? Work that out before you get into something like that with someone.
 

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Well we've already talked about it before. We would make sure everything is legit and we're good friends, but we'd still get things in writing. We'd be able to work it out and if one of us wanted to move out we'd either sell it and split it or come up with a compromise. I wouldn't be worried about that but I just don't want to get into a house then while I'm going to school have to cut back from school to work more because I can't afford the bills.
 

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man if i was you i would stay and not get a house, just try to get a cheap apartment for the time being and get a new car, then after you get outta school bust ass to find a job and start saving up for a house then get it and you will be set

fuck colbert just shotgunned a budwiser fucking AWESOME
 

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My only problem with that is that apartments here are the same price as a mortgage. I talked to my friend tonight and he can put about 7k down and so can I. We could get a 70k house which here is pretty damn nice. Our monthly mortgage with that much down would be about 370 with 7% interest. Then utilities and everything else it would be probably no more than 600. The cheapest apartments are about 500 for 2 people. Also my other friend said he would rent a room so the 600 would be split 3 ways because for 70k we can get a nice 3 bedroom house.
 

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Discussion Starter #8
I don't have it figured out that's why I'm asking for advice. I would like to do the house but just checking what you guys would do. And yea I was factoring in insurance and all that. Monthly Mortgage alone comes out to about 370 then with insurance, tax, utilities and misc expenses for the house itself it shouldn't be any more than 600.
 

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Don't buy a house with a friend. If you can afford it, buy a house yourself and rent out the rooms to your friend. Sharing a house would just cause too many problems. What if the A/C goes out and you are the only one who has any money? Who fixes it?

That being said. I highly doubt you would get approved for a loan, period. I don't even think a house is an option for you. You have to have a long, steady employment history. Coming off unemployment and working as a pizza delivery boy is NOT going to get you approved for a house. They are very strict right now. Me and my fiance bring home about $3200 a month after taxes, and they nitpicked our bank accounts, as well as our employment history, for a house that will be $600 a month mortgage, when according to the "your payment should be one weeks pay" would mean we could afford about a $1100 payment. Between our 6 credit scores (3 each), our lowest score was like 740, so credit was not the problem either.They don't just give out loans to anyone these days...

Also, you are part of America's problem. Unemployment while you are living at home AND have a job? I will give you shit because I would never do that. Claiming tips I don't care about, I didn't claim mine either... but unemployment, really?

You are on the right track about moving out of the house, but take it slow and rent for now. Owning a house is much more than paying mortgage and utilities. Buy yourself a reliable, and affordable car (you don't need a new one, just one that runs at this point) and rent until you graduate college and get stable.
 
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