Now is not a good time to buy. You are young. You don’t know this probably, but real estate is cyclical, and while the long, long term trend is usually up, within that ascent are peaks and valleys. We are coming off a peak, and most informed people believe prices will continue to drop, to a valley that’s very low.
If it were me, I’d sit tight, and see how things progress. Don’t commit to anything.
I know it’s tempting to be a homeowner, but it really isn’t the right time to buy. At some point, you will be able to afford something. It may be this apartment you’re in, but chances are very good it isn’t.
Someone gave me some very good advice last year – a friend who is a mortgage broker. He told me to log onto Zip Realty and start perusing the zip code of where I live, and where I want to buy, so I could become familiar with what’s on the market, and what my money gets me. Within a month I could tell the difference between a good deal, and something over-priced. It will help you if you become more knowledgeable on your market too.
As someone who’s not invested in your future, in my opinion, anything in a flight path would be extremely difficult to sell in the future.