There are clients who ask their estate agents if they should wait for some more time to get a larger down payment before they enter into the market. This works in some cases but in majority cases it does not work. Moreover, you save really a very small amount as it does not matter how much ever you may wait. The reason being is that at same time you are also paying some amount of rent, so you do not save much. Also in the meantime there is an increase in the price of the house. In order to do a profitable business, it is better to enter the market as soon as you generate a suitable down payment.
It is better to start building equity as soon as possible. Get into a level that is affordable for you. In the present day expensive market, it is better to buy a home that can suit your future needs rather than buying a number of homes. On the other hand, you can buy a home keeping your present needs in mind and then build some equity in the future time. When you have saved enough money, you can upgrade your home. Your equity will help you buy a new home. It is a tax-free money. There are many options in present day property dealings. You can consult a lawyer to get the best opinions. Talk to your friend and enter in co- ownership.
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