Can $8000 be a good down payment for a townhome, condo, or loft?
Added (1). I am 25 and thinking about buying property somewhere. I stand to have about $8000 in savings by the end of this year and want to wisely spend it. Should I save more or just start out with an apartment?
Thanks!
Added (2). Well my price tag is about $80,000 which would make it about 10% of the price. I am leaning more towards a loft or condo though. Is it possible to find a property like that for this price? Also my credit is not so good, will this be a major hold back?
Added (3). Thanks for all the answers guys! I think I am going to wait this out and work on getting my credit up as well as paying off some of my student loan debt. All were such good and detailed answers. Thanks again:)
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