Buying House Put On Hold
 

It looks like Ricky has to put buying a house on hold. Since he's young and still building up a credit history, the banks won't lend him enough for a house. So since he is making twice what he did, he's planning on putting every other check in his savings. He'd like to put more, but he pays for his cell phone, truck insurance and expenses, two school loans and misc. I think it's a great idea for him to do this, but I was so hoping to get rid of some of the animals.

Most of the places we've looked at needed some work and Ricky just doesn't have the knowledge or experience for home repairs. So he'll wait and keep putting money into his savings.

This is such a practical idea Janet! He is such a responsible young man! I know you want to get rid of some pets, but it will work out for the best.

He's a little disappointed, so ready to start out on his own, but doesn't want to live in a shack either. Right now the banks will only lend him $60,000. Ricky also wants to live in the country, not many homes in the country are less than $100,000. So...the more he saves, the bigger the down payment and that will help out so much. I'm glad I'll have him around for awhile longer. It does put some of the plans I had on hold, but it may work out even better for me too. As far as I'm concerned...he comes first.

Janet, there is a reason for everything. He's a smart young man you have raised him well. Wish I could put one of my paychecks a month in savings. lol

Me to Linda...me too!

That sounds like a good idea. It's great that he will be able to save every other check. There are so many expenses that are involved in owning a home.

You're so right Betsi. I think it would have been really hard for him, but I was willing to support him anyway. I'm glad he's waiting.

It's so hard to wait but waiting is a learning experience all on it's own. Ricky's a good kid and things will work out for him. Saving money for a down payment or something is a good idea.