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Reply to "With a 70k salary, should my daughter buy a condo or a house?"
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[quote=Anonymous]She stays with you for several years and save all her money. She should be contributing to her tax-deferred retirement savings and putting enough to get the maximum match from her employer. Once she has enough emergency funds for 6 months, and at least 30% for down payment, she should buy a house (SFH or TH) where the mortgage is not more than 25% of her take home pay. Otherwise, she can rent with several roommates. Home ownerships does not mean that you make yourself a pauper. [/quote]
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