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Hi. I'm 25, single no children, and earning about $39,000 a year in a reasonably stable job (I've just completed my first year). I'm currently renting an apartment for about $700 a month and considering purchasing a condo (in the $70,000 to $95,000 range). I pay my credit cards in full every month and have no other outstanding loans, car is paid in full but is getting up there in mileage (I hope drive it for as long as it will run). I put in about $300 a month into a 401K (No match but my employer also has a pension plan which takes about $100 a month). I could gather about $3,000 for a down payment but what really cncerns me is:

1. The downpayment and closing costs would wipe out the small emergency fund I have.

2. This would be a starter home (I hope). I would be willing to commit to the area for at least five years and I generally hate the pocess of moving but honestly at this point in my life I don't have anything keeping me here. Also, I just read Die Broke which cautions against doing this.

I am considering 2BR 2BA condos and getting a roommate to possibly share the expenses or a part time job to increase my income. However I'm trying not to rely on this when crunching the numbers.

Sorry this got a bit long but I feel so "on the fence" and would really appreciate some advice from more experienced folk. Thanks in advance.

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