[If this applies to you], did you pay off your student loans or buy a house first?

Yea, intuitively I know it's smarter for me to pay off the loans (I have like 11% interest :-/ ) but darn it I'd love to take the money I've been saving for so long and use it for a downpayment. :-(

I bought a house first. My thought process is that the home will appreciate and the sooner you can get into one the sooner you can start on the appreciation. plus the interest paid on both is tax deductable.

loans

I have done neither unfortunately, haha, but I know people who have....

You can get the option of consolidating your student loan debt into your mortgage. That makes one payment to one bank which helps a great deal.

Still, the best thing to do is to pay off your student loan before applying for a mortgage. You can get a bigger mortgage that way.

My parents bought a house first and my mother still has quite a bit to pay off on her student loans, so I'd say the loan.

Despite what the guy in an earlier post said, it is unwise to consolidate student loans, and even worse to consolidate them into a mortgage.

When you consolidate, you're actually paying thousands more in the long run just to keep the monthly payments down.

Houses are probably the best purchase you can make. You live in them, their value appreciates, and you nurture your investment at all times. That doesnt mean that you cant do both, but ask yourself two questions.

1) Would you mind living in an inferior house because you couldnt afford the better one because of student loan payments?

2) Are you willing to pay $200-300 more a month MORE than the minimum payment to pay off the student loan and get in that nicer house, even faster?

As boring as it is and sounds, saving money, paying off loans, investing are all things that must be done as soon as possible for them to pay off in the long run. A few hundred dollars invested or put towards a loan today means thousands of dollars profit in the future--- or in your case, less thousands of dollars of interest not compounded against you

Good luck

Didn't have any student loans.........worked during the day went to college at night............

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