I’m looking to buy land to eventually build a house or buy a condo?

So I am still new to all this and will give as much information as I can to hopefully get it all out there and not miss anything.

I make 48k a year (no OT) and years ago I came to the conclusion that odds are I will never be able to afford a house and the last few years sure didn’t help. I thought maybe I can buy land and pay it off and then build a house on it as to not have one huge loan at a time. Buying land in the Dallas area (plus 30 miles around except going south) is not looking great for the last 6 months or so I have been looking. I have no outstanding bills/debt outside of phone and car insurance and I pay 600$ a month living with a friend. I was living in an apartment but was paying 1,500 a month and that jumped up 19% and a friend offered for me to move into a spare room of his for no longer than a year while I look for land to buy or find another apartment that didn’t sky-rocket in rent. I can afford the rent but honestly I would rather not if I don’t have to.

So I am trying to save as much as I can from having a vastly lower amount of money I have to use per month but I am not sure what the best route is. I have not even thought about a condo until he suggested maybe it would work better for me as I am single and honestly not the most handy person so building and maintaining a home and land could be more than I could and want to do.

Overall I am not exactly sure what I want to hear or am asking but wanted other thoughts on the situation. ….I guess is land worth buying and then building on with what I currently make (I am looking for small amount of land about 50k and under) or are condos worth looking into? I’ve looked into a few around me and the prices don’t seem insane but I also hear mixed things about HOA for condos…etc.

Thank you all for anything you can provide and I will provide more details if possible!

Edit when adding new things:
My credit is above 750 – if that matters

submitted by /u/deathfromace1
[link] [comments]

So I am still new to all this and will give as much information as I can to hopefully get it all out there and not miss anything. I make 48k a year (no OT) and years ago I came to the conclusion that odds are I will never be able to afford a house and the last few years sure didn’t help. I thought maybe I can buy land and pay it off and then build a house on it as to not have one huge loan at a time. Buying land in the Dallas area (plus 30 miles around except going south) is not looking great for the last 6 months or so I have been looking. I have no outstanding bills/debt outside of phone and car insurance and I pay 600$ a month living with a friend. I was living in an apartment but was paying 1,500 a month and that jumped up 19% and a friend offered for me to move into a spare room of his for no longer than a year while I look for land to buy or find another apartment that didn’t sky-rocket in rent. I can afford the rent but honestly I would rather not if I don’t have to. So I am trying to save as much as I can from having a vastly lower amount of money I have to use per month but I am not sure what the best route is. I have not even thought about a condo until he suggested maybe it would work better for me as I am single and honestly not the most handy person so building and maintaining a home and land could be more than I could and want to do. ​ Overall I am not exactly sure what I want to hear or am asking but wanted other thoughts on the situation. ….I guess is land worth buying and then building on with what I currently make (I am looking for small amount of land about 50k and under) or are condos worth looking into? I’ve looked into a few around me and the prices don’t seem insane but I also hear mixed things about HOA for condos…etc. ​ Thank you all for anything you can provide and I will provide more details if possible! Edit when adding new things: My credit is above 750 – if that matters submitted by /u/deathfromace1 [link] [comments]

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