Saving For A Down Payment
2 Replies
William Lane
from Daytona Beach, FL
posted almost 2 years ago
This post is more of a question about the stock market. Should I invest the money I plan on using for a down payment into the stock market while I continue to save? It is going to take me about 2 years to save up enough money because I'm in college so maybe it would be worth it? I would love to hear everyone's opinion on this.
Justin Larese
from Crane Missouri
replied almost 2 years ago
Stock market is an investment, and as such is still a gamble. If you choose that route I'd advise caution, unless you are savvy with stock trading.
Justin Larese
from Crane Missouri
replied almost 2 years ago
Based on your info you currently own a home. I woul keep your money in savings, house hack your current location, see what improvements can be made to increase your equity. Once you've done that look at HELOC or an equity loan to leverage for your rental property. Or move into new location to fix up and house hack as you rent your original location out. Interest rates will only be going up from here. In two years you will be playing catch up when interests go up. Something to think about.