Others have given good advice when they say the best way to handle a person who is approaching home ownership unrealistically is to gently & objectively give that person all the unpleasant facts!FWIW, though, my perspective is a little different. I think people shouldn't totally rule out the idea of buying while still paying off debt. When I finally got a tenure track job 3 years ago, I thought I would have to pay off all my 13K credit card debt before even thinking about buying a home. I didn't manage the repayment plan very well (only saw the true Fool light six months ago!) so I still have just under 10K in debt and only 3K in the bank, but I am closing on a house come June if all goes smoothly.As it turns out this is the best possible time for me to be buying, so I'm not too upset that I didn't buy sooner (except for the fact that real estate in this area has appreciated some 50% in the last 3 years!). But I really could have started thinking about it much sooner. I am happy that I took my brother in law's advice to go ahead & talk with a realtor about my options instead of waiting another 3 years (which is how long it will take to pay off my debt).In my case, I have always kept current with all payments & have good credit, and I've finally learned how to budget properly and LBMM, so I think I am in good shape. (I'll tell you in 6 months if this was a terrible idea or not!) Also, I have all my debt at rates from 4-7%, so carrying the debt while paying on a mortgage is not such a burden. I hope I will be able to maintain my discipline as a homeowner.I would encourage anyone who has debt but wants a home to do some serious research & number crunching -- it might just be more doable than you think.Tanaquil I agree with you. We are in the same boat, we have some debt and plan to close on our new house by the end of June. I thought about waiting until the debts were paid down but weighed all the options we had. We had to move anyway and rental prices here are just as high if not higher than a mortgage. I always pay my bills on time and will stick with my budget, I have also cut down on some things as well so the mortgage payment won't overwhelm us either, cut cable by more than half, also found great ISP plan and just little things we take for granted. So after getting through the stress of closing etc we should be fine
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