Waste money on rent or buy sooner

[Peter Wellman]

Hi Everyone,

I have two options for my first house and am struggling on which one would be the better way to begin my investing.

Option 1

Use the VA loan, but I have to wait till July cause the underwriters want to see 6 months of consistent work history. This is because i took 5 months off after the military. My roommate moved out so i am currently paying 1800 a month on an apartment.

Option 2

Use a conventional loan with a co-signer and put 20% down. This would allow me to start building equity right away and not waste money on rent for the next 5 months. 

I don't know if it is worth waiting 5 months and wasting all that money not building equity on an apartment. I also am a little fearful that the prices of houses are going to creep up in the next 5 months.

I apricate any insight everyone can give me.