Submitted by [deleted] t3_z8ro9w in personalfinance
satellite779 t1_iydo4ct wrote
You don't say how much would a house cost in the area you want to buy, but it doesn't seem you currently have much buffer for buying. You have around $100k between investments and savings. That will all probably go for the down payment and then you have $0 savings. You also have $30k in debts + a car loan.
What happens if you buy a house and then get laid off from your new job (this can happen in a recession where new hires and/or highly paid employees go first). Will you be able to pay the mortgage and expenses for a year with no income?
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