I was just talking to a lady downstairs about apartments and home ownership. She was telling me that she put 20% down on her three bedroom home and ended up financing $94,000. Her payments are $750/mo. That is certainly affordable and a $120,000 house in Texas is certainly reasonably nice. Hell, I could even buy new. In addition, this lady knows my father and some of his monetary situation. Based on that, she suggested that I ask him for assistance in gathering my down payment. I'm beginning to think this might be a great idea.
I sure would like to build some equity someday. And… it would make for a nice place to live for my future wife and I before we move into a home of our own. Additionally, I really enjoy home improvement type work (painting walls, building decks, adding shelves) and always have a desire to do so where I live, yet never do because I can't take it with me, and oftentimes apartment complexes don't appreciate such modifications.
This might be a really good idea.
