There is a lot more to home ownership besides mortgage payments, taxes and insurance.?? You are now responsible for the furnace, air conditioner, plumbing, roof leak and all the other things involved in keeping a structure sound, plus mowing the lawn, weeding the beds etc.
It isn't cheap to sell. Plan on approximately 10% of the cost of the home to sell. ? It also takes time to sell, so if you are relocated you have a anchor around your plans. ? ??? If you were certain you'd be in town for 10+ years, purchasing may be prudent.? Otherwise, the flexibility of renting is great.
In addition, you mention you have low credit.? This also suggests you aren't ready to buy.?? The implications to having his Daddy co-sign are huge.? Now your debt is shown on his credit reports.? If you miss a payment, it shows up on his credit report.?? This isn't something you ask of someone you love (or anyone).?
House buying is not an emergency.?? I'm glad you are thinking through carefully.? Now is a great time to be taking the right steps to improve your credit.?? When you've been successful getting your FICOs scores well above 640, then ask the question again.
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