Engagement vs. Down Payment?

[Devin James]

Hello all! I am in a dillema and that is whether I should purchase an engagement ring or use the money to put down on my first house. Here is some info about me:

My girlfriend and I have been dating for 6 years (since 8th grade) and I have no doubt in my mind that she is the one I want to marry. Since December 2018 I have been a member of bigger pockets, studying and reading as much as I can about real estate. I plan to attend law school in the fall of 2020, and I want to buy my first property in lawschool with an FHA loan ( law school is 3 years long). I have been saving up money from my part time job since December 2018 and I have a goal of $10,000 by the end of the year. I am 19 years old and I will be graduating undergrad in the spring of 2020. My girlfriend is 20 and she graduates in the fall of 2019 but uncertain on if she will go to grad school or not.

Any advice is appreciated!

- also, I will graduate undergrad with no student loans due to an athletic scholorship and I plan on going to a law school that offers me the most money.

[Chris Mason]

This is more relationship advice than real estate, but talk to her best friend about rock size & timeline expectations. A lot of young ladies these days don't expect a giant massive rock and aren't in a super duper rush to get hitched.

Other than that, I'd point out to you that a diamond big enough to keep her dry when it rains will likely cost a lot more than roof big enough to keep her dry when it rains...