11-07-2006, 12:16 PM
The bottom line, aside from whether or not it's right to sue your friends/renters for backing out of a contract or whatever, is don't buy a place you can't afford without that extra monthly contribution coming in. Renters should be a financial augmentation towards the place you live, not a necessity.
What you may need to do, depending on your current assets and amount you have in savings, is rent for a while and set aside some money to cover down payments / closing costs on a mortgage. Closing costs are what a lot of people forget about when they go to buy a home. Some builders in some communities offer to cover some or all of the closing costs of your mortgage, so you may want to keep an eye out for that.
What you may need to do, depending on your current assets and amount you have in savings, is rent for a while and set aside some money to cover down payments / closing costs on a mortgage. Closing costs are what a lot of people forget about when they go to buy a home. Some builders in some communities offer to cover some or all of the closing costs of your mortgage, so you may want to keep an eye out for that.
Posting in the banalist of threads since 2004
2017 Mazda CX-5 GT AWD Premium
Past: 2016 GMC Canyon All Terrain Crew Cab / 2010 Jaguar XFR / 2012 Acura RDX AWD Tech / 2008 Cadillac CTS / 2007 Acura TL-S / 1966 5.0 HO Mustang Coupe
2001 Lexus IS300 / 2004 2.8L big turbo WRX STI / 2004 Subaru WRX / A couple of old trucks
2017 Mazda CX-5 GT AWD Premium
Past: 2016 GMC Canyon All Terrain Crew Cab / 2010 Jaguar XFR / 2012 Acura RDX AWD Tech / 2008 Cadillac CTS / 2007 Acura TL-S / 1966 5.0 HO Mustang Coupe
2001 Lexus IS300 / 2004 2.8L big turbo WRX STI / 2004 Subaru WRX / A couple of old trucks