Do I Need to Be a Homeowner Right Away?

Asa in Houston recently graduated from college debt-free. He's single and saving money. Should he be in any hurry to become a homeowner in this market?

QUESTION: Asa in Houston recently graduated from college debt-free. He’s single and saving money. Should he be in any hurry to become a homeowner in this market? Dave says no because his life is still in transition.

ANSWER: With your first career job and just barely out of college, your life is still in transition. It’s okay for you to pile up cash for a year or even two. Once you’ve settled in and you’re 100% sure you’re going to be there, then I’d start talking about buying a house. I don’t recommend buying a home the first year out of college, with rare exceptions. There’s too much transition. It’s okay to be calm. Money is made in the real estate business by buying the right thing at the right time, not by taking advantage of the market. I wouldn’t get rushed into it if I were you.