General Discussion
In reply to the discussion: California lawmakers want to crack down on corporate ownership of single-family homes [View all]Johnny2X2X
(19,253 posts)And interest rates shouldnt matter when refinancing when they go down is easy.
But getting the money saved for a down payment and closing costs is the biggest barrier for most renters. Depending where you live it takes $12K minimum to purchase a home. And most places it several grand more than that.
I wont get into personal finance. But I find that the majority of the people I know who cant afford to save dont make detailed monthly budgets for themselves. Youre dead in the water without knowing where every dollar is going. A budget can make a lot of things possible. Have a friend on disability who was able to buy a small home in Northern Michigan because he lives in a strict budget. He paid his home off and now lives there for a few hundred dollars a year in property taxes.