How fast can I buy a house in Illinois on 30k/yr?

I feel like renting is a waste of money

You're new to this sub, aren't you?

Rent is not a waste. Stop listening to all those "helpful" homeowners who've been filling your head with nonsense and do some reading about the advantages of renting. For someone at your income level, they are enormous, much better than whatever you're hoping you could get out of homeownership.

I make almost as twice as you do, and I'm not in any hurry to buy a home. Why? Because my quality of life is a lot better as a renter than it would be as a homeowner. Even if I could save some money by buying a house, focusing on my quality of life has translated into savings in other areas. For instance, I don't need a gym membership because I get my exercise every day by walking to the office. I don't have to drive to run errands, because I live in the center of it all. So that means less wear on my car, less gas, and more free time. Any house I could afford wouldn't be able to give me these perks.

You just landed a job. Do you think a month is long enough to give you any job security? You buy a house and the next day you're laid off. What are you going to do? It's doubtful your savings will keep you afloat for very long. Or what if you get a job offer in another state, one that offers a much higher salary. It's easy to say you'd sell the house and move, but chances are won't be able to afford a house that's easily marketable. So you'd be stuck making $30K for longer than necessary, just so you can say you're a homeowner. That's crazy.

Low-income people (which you are) are often screwed by the promises of homeownership. Someone making $30K is only going to be able to afford a house that needs a lot of fixing up, in a neighborhood with negative equity. But as a renter, you have the opportunity to live in a "nicer" neighborhood, in a "nicer" dwelling, and save your money rather than waving it goodbye every time you've got to make a repair. If homeowning is a goal of yours, save as much as you can so that your first home will be the "dream". You've got plenty of time. Only fools rush in!

/r/personalfinance Thread