Buying A House At 22. Am I Doing The Right Thing?

[Matthew Kafami]

I'm 22 years old with a good job in a growing field, have about $7,000 saved up for a downpayment living in coastal Florida. The average price for a 3bd/2ba 1,300sq ft house is about $160,000 from what I'm seeing in my area. I want to buy something that needs a little work as a live-in flip. Am I crazy or rushing into this? I'd appreciate any feedback or tips.

[Bob Okenwa]

I don't see anything crazy about purchasing a home if you can afford to live in it without over-extending yourself. At 22, it is even better as time is the most valuable resource in the world and the earlier you can get started, the more you can earn over time. Just make sure you do your research and have a plan and aren't doing it because it's the thing to do or someone told you to do it.