Hi everyone and Happy Holidays.
I need some advice. I am weary of moving around so much and my goal for sometime in 2014 is to either buy a house, or buy a camper and live on some land my dad has. Whatever I decided to do I want to stay there for awhile because I move around so much and it’s exhausting. Obviously not a problem if I buy a house, but living in a camper can be cramped and I’ve lived in small places all my life an am itching for some room. The appeal to camper living though, is that assuming in can pay cash for a camper, I can save up money to buy land/house later. And, of course it’s simple living!
So here are my options as I see it:
Camper – buy a camper and put on my dad’s land. He already has a well for water, electric , and sewer, however these things will need to be worked on to get where I can use them. I can expand my space buy making outdoor living spaces so I won’t feel so cramped. So my only expenses will be whatever it takes to get the well working again, and then utilities once I move up there. His land is not where I really want to be, but it's not far so I can drive everywhere I guess.
House option 1 – buy a small house just for me to live in, so it will be small but the mortgage will be affordable on my income.
House option 2 – buy a 3 bedroom house and rent out a room or two and split utilities so that it’s more affordable. I won’t be able to get as nice a house because I can only borrow so much on my income but maybe I can fix it up.
The problem with buying a house is that It’s all new to me and I’m having to learn all the terminology and the process, etc. It makes me a little nervous because I work in home health and don’t always have the same hours. However I’ve always been able to pay rent, so this makes me think I could pay for a house.
Any suggestions on what would make the most sense? Ok, a little more background info. I’m a first time homebuyer. I only have $2000 to work with (either to buy a camper or for down payment or to lower my debt to help with the process). I have good credit.
Whenever I think about buying a house, I wonder if it’s a good time to, and I do believe we are in a collapse and that maybe it’s not a good idea to buy a house. Campers are mobile. However it would be nice to just finally have a place of my own.
Thoughts?