I really like sdduuuude’s advice to set a payment – and bank the difference between rent and payment till you get your 20%.
It does 2 things:
– Gets you comfortable with the cash flow you’ll have once you actually do buy.
– Gets your nest egg built up quickly.
Too many people underestimate how broke they’ll be when they buy a house beyond their means. this way you know if it’s a stretch or doable -because you’ll have been living with that expense/payment prior to pulling the trigger.
