What advice would you give to a young person contemplating buying their first home?

It seems that one of the few silver linings in the economy sluggish, the housing market is more affordable properties, and I want the opportunity to buy my first house to explore. I am currently on a gap year between high school and college internship, and next September, I will move to Palo Alto, California, where I found a few properties near the campus of good investment opportunities arise. Ideally, I would buy a house three or four bedrooms and rent rooms to more students or young professionals, and keep the smallest room for me for a weekend of living in a dormitory. I would encourage students to others a discount in rent in exchange for taking care of my dog ​​during the Woche.Ich read recently that one of three loan applications denied at home now, and I know I’d still long for approval, primarily be because of my age. What criteria they look at in determining your eligibility? I’m young, but I have technique worked for 11 years since I started modeling and acting at age six. I’ve never been in the league of Dakota Fanning by any means, but I could save a lot, and my parents have invested wisely for me over the years. I could use the money for a down payment and still have enough savings for a rainy day. I’ve never had a traditional job 9-5, but I have a regular income from my modeling and creative activities, and I have all my statements and other documents that supported my financial viability. My parents pay for college, so that the mortgage and other expenses related to the house would be my only significant financial responsibilities werden.Ich’ll talk to my parents about it, of course, but I’d like a little advice and information of first, so I can gather more knowledge before speaking with them. Based on what I told you, you think I have a chance of being approved for a mortgage? How do you want for the first time home buyer incentives, the government proposes to qualify? Besides the mortgage, insurance, taxes and maintenance, what other costs do I need? How each of these things usually cost? If you have a region with the Palo Alto, you think that house prices continue to fall, or is the perfect time to buy? Would my parents must sign the cooperation the loan with me, if I buy a house I wanted, before I found 18 times next spring? Sorry to bombard you with questions! If there are books, websites and other resources for you to learn more about the process of buying a house I will be grateful if you could test it in your list of responses is highly recommended. I know I’m a bit naive about this whole process and I am grateful for any advice or suggestions gladly Verfügung.Vielen Thanks in advance for your answers, and taking the time to read this long question. 🙂

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