Sadly, if the conditions aren't ideal now, you're likely looking at an extended rental experience.....or as so many under 30 young single adults are doing, moving back home to live with parents.
As overwhelming as things sometimes appear, having a reasonable plan can make a difference and transform dismay into fulfillment. Many times the best plans are those that are take in stages.
Now, keep in mind, if you are unable to save a few thousand for a down payment you may not be a good candidate to be a homeowner. The simple discipline of keeping spending under control and adding to your savings is nearly the only requirement to meet assuming your credit has not previously crashed on the rocky shores.
With the guidance of a professional, you can even find homes that nearly 'self-fund' your mortgage payment. Select homes here in Tampa bay can provide over 80% of principle and interest resulting is a ridiculously low effective payment.
This is very likely a once in a lifetime opportunity. Fortunately, the opportunity will persist for a few more years. Do you know who is buying the greatest number of homes today? Investors! They seem to recognize this is an opportunity to grow their money making empires. If you want to be a home owner now would be a good time to start making solid plans. A few years is more than enough time to take care of excessive spending, reduce debt and increase saving.
ReMax Realtec Group
Palm Harbor FL
727. 420. 4041
Disciplined saving is the key. I bought my first property at 23.
The best advice I can offer is get a plan. You will figure out how to accomplish your goal either through frugality and careful spending or through career achievement.
The great news is home prices are very inexpensive and the pundits expect they will remain that way for a few years.
Best of luck.
PML of Longmont
We are selling to first time young home buyers every day on Long Island.